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Annie Duke – Why Great Investors Are Great Quitters | #448

The Meb Faber Show - Better Investing

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The Science Behind This Is So Simple

A scientist looked at bank loans that were in a state where they needed to be written off. He found that when the person who made the original decision was still in place, they wouldn't write it off. But when someone new came in, all of a sudden you got this rationality about what the state of those loans were. And now all of a suddenly they got written off,. like all the bad ones sort of got written off all at once.

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