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Human beings simply aren't hard-wired to be good investors. Think about it: how many of us, really, have the fortitude to pare back our winners and buy more of our losers? Most of us do just the opposite. Heck, so do most mutual fund managers, which is why they can't beat the market either.
There is a reason we as a culture have accorded hero-like status to great investors like Warren Buffett and Peter Lynch. For all the cultural reinforcement we get that investing is something anybody ought to be able to master, we know in our bones it's not true. Buffett and Lynch are like great athletes, who have the skill and the emotional makeup to do something well that the rest of us can only dream about.
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1 comment:
Sad but most people end up losing because investing is much harder than it seems.
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