Quote for the Week
As human beings, particularly if we are successful in other parts of our lives, we are notoriously unable to accept the obvious reality that, on average, we are average, and that our normal experiences will usually be about average because we are, as a group, captives of the normal distribution of the bell curve. It amuses us that Lake Wobegon’s children are all above average, yet studies all the time show we think we are above-average drivers, above-average parents — and above-average investors. And we do tend to take it personally when our stocks go way up or go way down, even though, as Adam Smith admonishes, “The stock doesn’t know you own it.” — Charley Ellis (source)
From the Archives
Last Call
- 5 Mind-Blowing Market Facts That Will Make You a Better Investor – OptimistiCallie
- Even the Most Sophisticated Investors Aren’t Likely to Outperform – L. Swedroe
- On Why Carrying a Notebook Might Make You a Better Investor – Polymath Investor
- The Infinite Loops Guide To…Decision-Making – OSVerse
- Katharine Graham: Personal History – Becoming Berkshire
- Introducing the Historical Tech Tree – Hopeful Monsters
- How to Find Ancient Assyrian Cities Using Economics – Maximum Progress
- The Grand Encyclopedia of Eponymous Laws – Secretorum