In his highly instructive book of interviews, Hedge Fund Market Wizards, Jack Schwager asks the successful investor, author, and Columbia Graduate School of Business professor Joel Greenblatt what mistakes investors make. His immediate response was:
“First, succumbing to emotions, they tend to make decision based on an emotional response to price action or what they read in the papers or hear on the news.”
That’s been our observation over the years as well…
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