Mental Models: Streaking Star Effect or Bias: #64
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A talent that you have, but will it last, unlikely! We all want that superior money earning performance to continue, and we enjoy the success of an individual over a team (Jessie Walker and Tom Gilovitch reported on it in 2020, links below). Because we like narratives and we want to be the hero of our story, just like Kolby Bryant or LeBron James were for the Lakers.
For more on best investing strategies, avoiding bias and learning about your brain BUY 5 star reviewed book “Understanding Behavioral Bia$” on Amazon - link here: http://amzn.to/2XHtsOE Continue to listen to Mental Models Podcast for updates on the current state of the market. Stay safe and healthy out there!
Links:
Walker & Gilovich (2020) Journal of Personality and Social Psychology https://doi.apa.org/doiLanding?doi=10.1037%2Fpspa0000256
More on Streaking Star effect in Science Daily https://www.sciencedaily.com/releases/2020/08/200831094719.htm
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