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TIP 022 : Influence - The Psychology of Persuasion - Robert Cialdini's Book (Investing Podcast)
We Study Billionaires - The Investor’s Podcast Network
Social Proof and Herd Mentality
Social proof is a powerful concept highlighted by a study where individuals were more likely to mimic behavior when they saw a group performing an action as opposed to a single person. This phenomenon, known as 'herd mentality,' is essential in stock investing and daily life, as people tend to follow the crowd due to a survival-driven instinct.
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