behavioural biases

Most of us read about behavioural biases and acknowledge they exist, yet there is no evidence the financial community is any better at dealing with them. Understanding...

In a previous wire, we asked the question: "Where is iron-ore headed from here?". We suggested a clearing price around $100 USD/ton. The futures price hit that level...

In my previous wire, I showed that overconsumption of news misinforms investors and wastes their time. But that’s not all: in this article, I cite evidence that...

Shareholders and others sometimes ask: “where do you get the information you need to invest?” In response, I say something like: “every business day I scan headlines...

It is something we’ve all been told before. Successful long-term investors survive short-term volatility by sticking to investment principles that have withstood the...

In a recent two-part series, I showed that successful investment isn’t a matter of raw brainpower; instead, it’s primarily the result of refined character – and...

We can think of any investment decision as the coming together of an object, data and analysis, with a subject, the decision maker. This decision maker may be a person...

When Walter Schloss founded the funds management firm that bore his name in 1955, markets were a very different place. Schloss harnessed the power of Ben Graham's...

Making sensible investment decisions is difficult. We are subject to a range of behavioural biases. We have to cope with incessant noise around financial markets. We...

Behavioural economics moved into the mainstream when psychologist Daniel Kahneman was awarded the Nobel Prize for economics. Ironically, his work was critical of...