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For decades, the prevailing view of financial markets was one of rational actors creating efficient prices. In recent years, particularly in the wake of the GFC, investors have increasingly adopted a very different view of how markets operate. Loss aversion bias, anchoring, and herding (among others) have all become popular... Show More

Nick Kirrage

The concept of ‘herding’ is a powerful lesson that investors should not ignore. Herding is the bias that can lead investors to follow the crowd, whether they genuinely agree with what they are doing, or are just scared of being left standing alone. Show More

Nick Kirrage

In honour of the forthcoming Melbourne Cup, let’s start with a quick trivia question: In how many calendar years has the favourite finished first in each leg of Australian racing’s ‘Grand Slam’? For the record, this four-legged achievement (in more ways than one) takes in the Golden Slipper, the Caulfield... Show More

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