Managing the Mental Aspect of Investing
by Meir Statman
Meir Statman is the Glenn Klimek Professor of Finance at Santa Clara University, Santa Clara, California, and author of the recently published “What Investors Really Want” (McGraw-Hill, 2011). I spoke to him recently about mental hurdles investors face when making investing decisions.
Charles Rotblut, CFA
Charles Rotblut (CR): In your book, you talk about how people commit cognitive errors such as confirmation errors and hindsight errors. Can you elaborate on the kinds of cognitive errors that people commit when they make financial decisions?
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