Wednesday, December 11, 2013
Future Science: Current Reading
If you have read Charlie Munger's Psychology of Misjudgment, some articles in this book will resonate very strongly. I am only halfway through my first reading of this book, and I will provide further updates when necessary.
At this point in time, I am pondering issues of behavioural traits that are ingrained in us. There is simply no way to change these behavioural biases which sometimes lead us to bad decisions and irrationality, especially in the field of investing. The only effective way to deal with this is to recognise them and then to devise ways to make such behavioural biases work in our favor. For example, I believe there are long term benefits if one could find a way to switch viewing screens to monochrome when checking stocks portfolio. Better yet, don't check the portfolio more than once per fortnight, although I doubt that 90% of investors can actually do this.
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