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Cass R. Sunstein

Why Do Investors Make Bad Choices?

Even the savviest of observers make the mistake of investing based on emotions and past experiences.

For many years, I have studied human behavior, including the mistakes occasionally made by fallible people, including investors.

But a few years ago, I made a really dumb investment decision. In a single day, I hit the trifecta, committing at least three classic behavioral mistakes.