The Psychology Behind The Dumb Money Effect: Mauboussin

http://www.valuewalk.com/2013/10/psychology-behind-the-dumb-money-effect/

Credit Suisse Global Financial Strategies analysts Michael J. Mauboussin and Dan Callahan shed light on how our minds confuse skill and luck in their work “Outcome Bias and the Interpreter†of October 15, 2013. What is Outcome Bias? People are guilty of outcome bias when they blindly ascribe a good…

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