Day 242
Week 35 Day 4: Narrative Bias: The Story Is Not the Investment
A compelling story is not evidence of a good investment. The brain processes narratives more easily than statistics, so a stock with a great story (disrupting an industry, visionary CEO, revolutionary...
A compelling story is not evidence of a good investment. The brain processes narratives more easily than statistics, so a stock with a great story (disrupting an industry, visionary CEO, revolutionary product) feels more convincing than a stock with great numbers but a boring story.
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