“People are loss averse and short sighted”
John Authers has decamped to Orlando, Florida (more precisely, Disneyworld) for this year’s Chartered Financial Analysts conference. The FT agreed to pay for his flights and accommodation, with the caveat that he had to prove he was working and not merely impressing Minnie Mouse with his formidable knowledge of Bloomberg shortcuts.
Enter a series of videos, dubbed “Long View Interviews”, shot live from sunny Florida. One of best of these videos is an interview with Richard Thaler, one of the founding fathers of behavioural economics and the co-author of “Nudge.” Worth watching.
There’s a similarly worthwhile video interview with Michael Mauboussin, chief investment strategist at Legg Mason, on the subject of psychology and markets. Mauboussin is known for his work comparing investors to gamblers.
Related links:
Behavioural economics - Archive of posts at the Economist’s Free Exchange blog
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