08 Sep Conservatism Bias
Curious Investor Behaviour – Number 6
People tend to cling tenaciously to an opinion. Even when circumstances have changed, most people find it difficult to adjust their view.
A study by Dresdner Kleinwort Wasserstein in 2002 reveals that analysts’ forecasts typically trail reality- in fact most ‘forecasts’ are very good at telling you what has just happened.
Perhaps we should pay heed to Darwin’s maxim: adaptability, not strength, is the key characteristic of survival.
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About Reuben Zelwer
Reuben Zelwer established Adapt Wealth Management in 2011 to help time poor clients achieve financial freedom. For over 15 years, Reuben has helped professionals, executives, business owner and those approaching retirement make the most of their circumstances by making good financial decisions. Reuben’s professional practice is complemented by substantial voluntary work, which has included setting up financial literacy and savings programs in the local community.