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The Psychology of Investment: Embracing Divergence
This chapter examines the concept of the 'tribal gene,' suggesting that most individuals instinctively follow group behavior during market stress, while only a small fraction can think independently. It highlights the importance of long-term perspectives and mental preparedness in navigating market volatility through historical examples and personal investment experiences. The discussion emphasizes the significance of recognizing missed opportunities and the value of learning from both successful and unsuccessful investment decisions.