Poker has lessons for investors - washingtonpost.com
"Success at both investing and gambling, it turns out, has much to do with controlling emotions. And playing a little poker can help you recognize emotional traps that endanger your most important stack of chips -- your portfolio.read complete article : Poker has lessons for investors - washingtonpost.comThe psychological issues that drive investing and gambling decisions are "identical," says Andrew Lo, director of Massachusetts Institute of Technology's Laboratory for Financial Engineering.
Five common issues:….."
… 1) Greed, 2) overconfidence, 3) regret, 4) seeing patterns, 5) holding losers
Labels: finance
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