1.7.2
Why do we look for information that agrees with us?
- You buy a coin
- It starts falling
You search:
“Why will it recover?”
- You find someone bullish
- You feel better
- You ignore the analyst saying the thesis is broken
That's CONFIRMATION BIAS
We don't always search for the truth
Sometimes we search for evidence that makes us feel right
And the more money we've committed, the harder it can become to hear anything else
The dangerous question isn't:
“Am I right?”
It's:
“What would prove me wrong?”
~ Think before you act
#BinanceSquare #ThinkBeforeYouAct #Psychology #BehavioralFinance
Why do we look for information that agrees with us?
- You buy a coin
- It starts falling
You search:
“Why will it recover?”
- You find someone bullish
- You feel better
- You ignore the analyst saying the thesis is broken
That's CONFIRMATION BIAS
We don't always search for the truth
Sometimes we search for evidence that makes us feel right
And the more money we've committed, the harder it can become to hear anything else
The dangerous question isn't:
“Am I right?”
It's:
“What would prove me wrong?”
~ Think before you act
#BinanceSquare #ThinkBeforeYouAct #Psychology #BehavioralFinance
