How CEOs Persuade Theirself to Buy When the Price Is High

André Schleifer's work is that maybe your listeners are thinking, yeah, there's probably some international people in Los Angeles. They show that even CEOs of major companies make these same mistakes. People overweight what they see recently and it becomes more representative. And as a result, you get this kind of momentum where like prices have just gone up. That makes me think they're going to go up even more.