Stop Wasting Money

It is a universal element of the human condition that we seek out individuals who are similar to ourselves. People who share our values, traditions, culture, religious beliefs, political leanings, and even entertainment preferences.

The upside of this type of behaviour is that we tend to lead more enjoyable lives and feel more fulfilled because we are surrounded by others who validate our existence.

The downside is that we lead more sheltered lives with little adventure since we don’t feel the need to broaden our horizons or seek better alternatives to common challenges.  Read More…

This article has 6 Comments

  1. Cash H

    Nothing wrong with a little confirmation bias from time to time. It keeps a good thing going. But when the downside hits that is when one will likely adapt and build a new pattern to lean back on. In essence building a new confirmation bias.

  2. Hans Newcombe

    It's knowing not to panic when the markets flip on its head and start going south.

  3. Kohl

    Human beings are naturally lazy and choose the path of least resistance. It's totally normal that they prefer to seek and copy others, including in investing. Why do you think so many people look to Warren Buffet? They see the results and want the easy route out.

  4. Isidor Everingham

    Some good advice. Some years back i remember buying into a stock which i wont name here out of sheer embarassment, and because i didn't devote enough due dillgence to understand why it will not work that i ended up losing my entire investment. I learned a lot from that though.

  5. Kenyon C.

    Playing in starter practice accounts is always a good thing. It helps to break old habits without losing money in the process.

  6. Francesco

    I will admit that most of my investing comes from just parking it in Mutual Funds. I just want to invest and walk away. I think most prefer it that way. Sure there are high trailer fees but its more convenient than having to do endless research.

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