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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: Moominoid who wrote (67594)8/16/2005 12:11:54 AM
From: shades  Read Replies (3) of 74559
 
The wise are few in number.

So true MOO, but so many think they are one of the few wise, 99% of the people think they are in the top 10% of investors - I have read several academic studies along this line. I accept I am very poor at it, I have lost my share of wealth in losing investments and even here on SI followed some fantasy myself.

I was listening at the financial planners in florida that come on after phil grandie last week - I don't remember the show - Slagle maybe can help us - anyways they were talking about an academic study about certain people who either had brain damage from stroke or childhood type calamities or birth problems - and how in these particular people - certain emotional centers of the brain were either abnormal or just non functional - basically they didn't have the emotional response of most of the rest of us in the herd to similar events. This study was about investors with this brain defects - and from what the guys were saying these investors were getting superior returns than normal brain functioning investors - that thier lack of fear or excitement made them much better investors - I wish I had more info to give you than that - but have you heard of such a study? The rest of the show they went on talking about why indexing is superior for most people because during 9/11 type events most people would have sold at the low and bought back in after the recovery - the worst thing to do if you want to make money.
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