The Next Financial Crisis Is Staring Us in the Face - Bloomberg
“You can have a committee of 10 geniuses that proves collectively to be a moron.”
...we discussed the issue of lack of temporal understanding among investors. I believe that humans only experience a rough version of NOW. In reality, the future and the past are false constructs. The future is little more than our faulty guesses about one outcome out of many possibilities; the past is an error-riddled set of recollections, filled with selective retention and ego-driven biases.
...Once we can get people to visualize in life-like realism the impact of their behavior on their future selves, it leads to profound changes in how they behave.
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