#53 Howard Marks: Luck, Risk and Avoiding Losers
The Knowledge Project with Shane Parrish
Emotions Cause People to Buy More the Higher Prices Go
M so a lot of people seemed to n purpose to understand what was happening, but they they had an inability to act. Maybe it comes from the fight or flight mentality, which is so deeply ingrained in us. In other words, emotion causes people to buy more the higher prices go. And this applies to professional managernall, but it only applies to people who have feelings. i quoted in the book richard fineman, the physicist who said that physics would be much harder if electrons had feelings.
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