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28 September, 2015

Unhealthy Attachments

Everyone tries to make the right decision, and generally speaking the more time and attention we spend in trying to get it right, the les likely we are to make a mistake.  Regardless of how hard we try however, sometimes we get it wrong.  Here Jim Parker, Vice President at Dimensional Fund Advisers, looks into the human factor, where we have a predisposition to stand by a decision, even when we know it is wrong.  Even when we know the right thing to do is cut our losses and move on.  It's hard to admit to a mistake, but it can be even harder if we don't, and we let a bad decision run on.

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by John Stirling