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90551c6
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And if you buy the new issue after it begins trading, usually at a higher price, you are even more certain to lose.
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Burton G. Malkiel |
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a376a79
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ou could talk about Prohibition, or Hemingway, or air conditioning, or music, or horses, but in the end you had to talk about the stock market, and that was when the conversation became serious.
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Burton G. Malkiel |
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a22e2eb
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Kahneman and Tversky concluded that losses were 2 1/2 times as undesirable as equivalent gains were desirable. In other words, a dollar loss is 2 1/2 times as painful as a dollar gain is pleasurable. People exhibit extreme loss aversion, even though a change of $100 of wealth would hardly be noticed for most people with substantial assets. We'll see later how loss aversion leads many investors to make costly mistakes.
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Burton G. Malkiel |
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da78adc
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You could talk about Prohibition, or Hemingway, or air conditioning, or music, or horses, but in the end you had to talk about the stock market, and that was when the conversation became serious.
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Burton G. Malkiel |
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02df2a6
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Those with a broader view--investors who recognize that the world has changed considerably since Markowitz first enunciated his theory--can reap even greater protection because the movement of foreign economies is not always synchronous with that of the U.S. economy, especially those in emerging markets.
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Burton G. Malkiel |
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8cb0826
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It is not hard to make money in the market.
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Burton G. Malkiel |