Markets influenced by irrational behavior from "summary" of The Money Culture by Michael Lewis
In the financial world, the idea that markets are influenced by rational decision-making is a comforting notion. It suggests that there is order and logic behind the fluctuations of stock prices and other assets. However, the reality is often far from this idealized view. In fact, markets are frequently driven by irrational behavior, as individuals make decisions based on emotions, biases, and other non-rational factors. This concept of irrational behavior in markets is a central theme in "The Money Culture" by Michael Lewis. Throughout the book, Lewis explores the ways in which human psychology can lead to irrational decision-making in the financial world. He delves into the various cognitive bia...
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