Beware of overconfidence. It can cause great harm.
It’s not possible to buy at the lowest price. When the bottom comes, you can’t tell.
Do you remember those days last summer when the Dow went down 400 points one day, then it went up 400 points the next day, before it went down another 400 points the following day? I saved in my notebook this excellent post on the Bogleheads forum by the remarkable poster nisiprius: A time to […]
Speaking of not selling, I find this tidbit quite interesting: the vast majority don’t sell anyway. Steve Utkus, Director of Center for Retirement Research at Vanguard, wrote in the Vanguard Blog that during the recent volatile days, between Aug. 1 and Aug. 10, only 2% of all 401(k) participants in plans administered by Vanguard made […]
At the end of a previous post, Stories from Strapped: Debt, I asked, How do you make people do the right thing for themselves? This new book Nudge, by University of Chicago professors Richard Thaler and Cass Sunstein, addresses exactly that question. Here’s a 8-minute video of the authors talking about this book. I find […]