Education and experience do not always prevent behavioral biases from "summary" of Beyond Greed and Fear:Understanding Behavioral Finance and the Psychology of Investing by Hersh Shefrin
One might think that with education and experience, individuals would be able to avoid falling prey to behavioral biases. However, this is not always the case. Even well-educated and experienced professionals can succumb to these biases, leading them to make irrational decisions when it comes to investing. The reason for this lies in the fact that our brains are wired in a way that makes us susceptible to these biases, regardless of our level of education or experience. These biases are deeply ingrained in our psychology and can influence our decision-making process without us even realizing it. Education and experience can certainly help individuals recognize these biases and...
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