Weekly Focus - March 18, 2015 - "Guide Your Clients Away From Bad Investment Decisions"
There are a number of pitfalls that advisors need to be aware of so they can guide clients. For instance, clients tend to make simple mathematical mistakes that lead to bad investment decisions.
Psychologist Daniel Kahneman, winner of the Nobel Memorial Prize in Economics, observes that people all too often form a response without checking and without thinking through the answer. "People are not accustomed to thinking hard and are often content to trust a plausible judgment that comes quickly to mind."
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