A Musical Lesson for Investors and Advisors

res-0815-annuityanalytics-mi600-resize-600x338The August edition of Research magazine is now out and my column is now available online and is linked below. Here’s a taste.

Sometimes near Christmas Phil would slip out of Avery Fisher Hall after a performance with the Philharmonic, change jackets, and join some Army brass in front of a kettle. He didn’t hear “Bravo!” there. In that context, people who had just paid a lot of money to applaud his virtuosity would routinely ignore him and his music. It was as if he was hiding in plain sight.

In nearly every context and situation, we routinely hear, see and perceive exactly what we expect. No more and no less. Since concertgoers (or more precisely, concert-leavers) didn’t expect a world-class performer to be playing with the Salvation Army on a street corner for free, they didn’t notice when one was doing just that.

I hope you’ll read the whole thing.

A Musical Lesson for Investors and Advisors

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