Forget about it
As odd as it might sound, forgetting about an investment might be a way to get good investment performance, a blog on Business Insider says. Fidelity Investments (one of largest global funds in the world) examined which accounts had performed well, and found people who “forgot” they had an account at Fidelity did best, the blog explains. A reason might be behavioural biases as investors often make the mistake of buying high and selling low, the blog says.
How much would you pay?
People typically overestimate how much others will pay for goods such as DVDs, iPhones and even imaginary things like a trip to the moon, a blog on Phys Org says. In an experiment, the average MBA student in a class was willing to pay $27 for a box set of DVDs of four seasons of the “Sopranos”, but the same students estimated that other people would pay $40, the blog says. This overvaluing bias, or endowment effect, can lead to sellers setting prices too high, the blog concludes.
Don’t put off today
Do you often decide to do something “later” only to find it never get done? If you answered “yes” it might pay to remember your behaviour today is a strong indicator of your behaviour tomorrow a blog on Harvard Business Review says. The blog suggests using the “now” wisely instead of banking on time in the future can help you stay committed to your goals.