April 19 (Bloomberg) -- One of the enduring mysteries of the finance world is also one of the simplest. How do seemingly intelligent, well-educated people make so many bad decisions?
New research confirms what many of us had suspected all along. Most managers find it virtually impossible to think straight. So do most investors. They keep letting their emotions and their pride get in the way.
As long as that's true, bad calls will still be made.
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