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Are Stocks Cheap? (EP.312)

Animal Spirits Podcast

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The Importance of Being Right

Some people in finance, like the intellectual stimulation you get from thinking about this stuff and forecasting it, I think some people get off more on that than they do even on what their returns are. A lot of times people would rather be right than make money. If they're proven wrong, then they look for ways to move the goalposts and figure out ways to say, "I wasn't really wrong"

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