7 ms·
I wonder if it is because we hear about people who are successful betting against the herd.
I wonder if it is because we hear about people who are successful betting against the herd.
This is certainly part of it. The survivors write the narrative.
Markets can stay irrational longer than you can stay solvent... We just rarely present those who became insolvent unless it was massive screwup. And even then, well they don't get movies.