Having a financial adviser enables the investor to carry a psychological call option. If the investment decision turns out well, the investor takes the credit, and if it turns out badly, the regret can be lowered by blaming the adviser. — Hersh Shefrin Copy Share Image
Reality looks much more obvious in hindsight than in foresight. People who experience hindsight bias misapply current hindsight to past foresight. They perceive events… — Hersh Shefrin Copy Share Image
Having a financial adviser enables the investor to carry a psychological call option. If the investment decision turns out well, the investor takes the… — Hersh Shefrin Copy Share Image
