From Joshua Brown at The Reformed Broker: The human animal will never be free of the two constants, fear and greed. This is regardless of whether they’re investing in closed-end funds, high-cost products, rules-based products, faith-based products, socially responsible products, individual stocks, passive strategies, active strategies, alternative strategies, physical assets or digital coins. The urge to avoid downside and to be a part of bull markets and bubbles is undefeated, throughout all time and space. It applies universally, to people of all age groups and all over the world. It is a part of our DNA. Our ancestors who didn’t run from danger or run toward reward were not likely to have passed on their genes. Our ancestors who were able to take the risks necessary to secure a mate and shelter, have handed down the fight or flight instinct to us. There is a certain arrogance necessary in order to believe that this ubiquitous and permanent condition can be eradicated by software ...
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