Investing With Bernie Madoff - Why We Get Duped

When Stephen Greenspan and his sister made the choice to invest with Bernie Madoff, it wasn't because they relied on just one of those mental tools. All three modes together contributed to their ill-fated decision. We go into preacher mode when our sacred beliefs are in jeopardy; we enter prosecutor mode when we recognize flaws in other people's reasoning. The risk is that we become so wrapped up in preaching that we are right,. prosecuting others who are wrong and politicking for support that we don't bother to rethink our own views.