Ability to understand, interpret and respond to your emotions — and those of others — is critical for investing success
book was released in 2005, people have been talking about the term as a previously overlooked approach to human perception. Often shortened to EI, and sometimes called emotional quotient , it argues that some people are just better at reading the room and being empathetic.
It has often been suggested that good investing is simple, but not easy. What that means is that the concept is intellectually simple. All you really have to do is buy a broadly diversified, low-cost basket of securities that meets your risk tolerance and capacity and hold it for a long time, remembering to rebalance from time to time as markets move and new money becomes available.
Bullshift can magnify the harm done by a lapse of emotional intelligence if you’re not careful. I fear that the industry has failed to do enough to prepare ordinary investors for a prolonged and protracted bear market. Many Canadians who insist they have the emotional intelligence and steely resolve that go with a long-term mindset might lose their nerve and succumb to making a rash decision if they encounter such a turn of events.
While minutes from the Fed's July meeting this week showed a number of policymakers were ready to consider rate cuts come September, Powell's speech could offer insights on the pace of easing and how the central bank will respond as the economy evolves. Powell is scheduled to speak at 10 a.m. ET at the annual global gathering of central bank officials at Jackson Hole, Wyoming. Traders have fully priced in a scenario where the Fed begins easing interest rates at its Sept.
Richard Thaler Daniel Kahneman
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