The Myth of the Rational Investor

rcm_logo_followMy latest Real Clear Markets piece is available here. A taste follows.

Homo economicus is a myth, of course. But it’s a very seductive myth, especially as and when we relate the concept to ourselves. We like to think that we’re rational actors carefully examining and weighing the evidence in order to reach the best possible conclusions. Oh that it were so.

Here’s the money quote: “Information may be cheap, but meaning is expensive and elusive.”

Better Investing Requires A Broad Perspective

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