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Bad News is Good News

The Compound and Friends

CHAPTER

Why Are People So Bad at Everything?

In 2000, Robert Schiller had a book out called A Rational's Exuberance. He concluded there is some kind of irrational component that must explain this much higher volatility level. This was the birth of behavioral economics. Behavioral economics purports to show how people really behave,. And as you know, people don't buy low sell high, they buy high-end seller.

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