Mental Models: Confirmation Bias and the Macro Rorschach: #18
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Description
Is the US headed into a recession or contraction in the economy? Confirmation Bias is when we force our views upon the macro data, and there is always something there. What are indicators of a recession? Humans are excellent data processors for the short term, we need indicators to watch for. It is necessary to identify what is actionable, but macro events in the Economist Magazine for example, can obscure our perspective, due to over coverage. A better strategy would be to step back and think less about the macro to give your brain time to catch up. "Understanding Behavioral Bia$: A Guide to Improving Financial Decision Making" AVAILABLE...Fall, 2019 Authored by Dr. Daniel Krawczyk & George Baxter, JD, CFA Publisher Business Expert Press Do you want strategies to make better financial decisions? Do you want to be a better investor and earn more money? If you said yes to any or all of the above questions, than this book is for you!
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