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Emotional decision-making is a common mistake investors make. According to research, cognitive biases such as herd mentality, loss aversion, anchoring bias and hindsight bias can diminish your ...
Emotional decision-making is a common mistake investors make. Cognitive biases such as herd mentality, loss aversion, anchoring bias and hindsight bias can diminish your ability to make good ...
The gambler's fallacy, also known as the Monte Carlo fallacy or the fallacy of the maturity of chances, is the belief that, if an event (whose occurrences are independent and identically distributed) has occurred less frequently than expected, it is more likely to happen again in the future (or vice versa).
Odds and evens is a simple game of chance and hand game, involving two people simultaneously revealing a number of fingers and winning or losing depending on whether they are odd or even, or alternatively involving one person picking up coins or other small objects and hiding them in their closed hand, while another player guesses whether they have an odd or even number.
“The big money is not in the buying and the selling but in the waiting,” he once explained. With that in mind, here are three stocks that the Munger-style waiting game could work with. D.R. Horton
Moreover, a given decision game can deal with a problem that belongs to more than one art. Thus, for example, a decision game designed for police officers may deal with both ethics and tactics. Common types of decision games include: business decision games; ethical decision games; firefighting decision games; leadership decision games
After nearly seven decades of experience, investing legend Warren Buffett has accumulated more than $142 billion in personal wealth — and the Oracle of Omaha believes much of his success is ...
The fundamental theorem is stated in common language, but its formulation is based on mathematical reasoning. Each decision that is made in poker can be analyzed in terms of the expected value of the payoff of a decision. The correct decision to make in a given situation is the decision that has the largest expected value.