The market may be crazy, but that doesn’t make you a psychologist. — Meir Statman
It’s easy for investors to claim that market prices don’t make sense because it’s often true: market prices don’t make sense most of the time. But the job of any successful investor is not to spend their time pointing out this fact. The job of a successful investor is to understand why prices are where they are. Every single market environment is different. Investors need to calculate probabilities from the past, but they also need to analyse the present to provide context for understanding the situation. Investors are constantly questioning whether the market is wrong. It would be far more helpful if more investors questioned whether they are wrong about the markets. — Ben Carlson..
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