Peer influences can impact investment strategies from "summary" of The New Psychology of Money by Adrian Furnham
Peer influences play a significant role in shaping our investment strategies. Our friends, colleagues, and family members can have a strong impact on the decisions we make when it comes to investing our money. This is evident in various studies that have shown how individuals tend to follow the crowd when it comes to making financial choices. People are often influenced by the behavior of those around them, especially when it comes to investing. If their peers are investing in certain assets or following a particular investment strategy, they are more likely to do ...
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