The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: patron_anejo_por_favor who wrote (177872)	1/19/2009 1:58:34 PM
From: GraceZ	Read Replies (1) of 306849

Why are so many intelligent, college-educated people such total idiots when it comes to money? I have a book for you: Why Smart People Make Big Money Mistakes amazon.com It's about the emerging field of "Behavioral Economics" and details the various known irrational decisions that even well educated people routinely make in regards to how they deal with economic and investment decisions. Some I'm sure you are familiar with some like "ownership bias" and the idea that losing "house money" isn't the same as losing what you see as your own money. Rich people tend to think they are much smarter than they actually are so they are over confident, this makes them perfect targets for guys like Madoff.

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