When it comes to financial decisions, we can often be tricked (or trick ourselves) into believing that we are making the right choice with our money because we often base those decisions on rosy projections, past performance, linked events or even mushy things like emotion and sentiment. But that rarely leads to smart decisions or financial gains when it comes to investments.
These insights are particularly important for financial planners, who often become voices of reason when we are faced with challenging financial or economic choices.
"People often confuse certainty and safety." — Harold Evensky
Via Alessandro Cerboni