We are geared by nature to look for patterns. And what is most confusing to people is the case when there is no pattern, when it really is governed by luck. The stock market is a perfect example of that. Today you have Abbott and Costello on CNBC. One says the market will go up, and one says the market will go down. You have nobody who says, 'I simply don't know, and there is no way of knowing.
- Dr. Meir Statman
Professor of Finance
Santa Clara University
Spot on.
No comments:
Post a Comment