The endowment effect: why we value what we already own
We ask for more money to sell something than we'd ever pay to buy it. That's the bias that keeps you clinging to investments, properties and subscriptions that no longer make sense.
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The ideas I'm exploring this week.
The Availability Bias: Why What's Easiest to Recall Feels Most Likely
We judge the risk of an investment, a crash, or a fraud by how easily an example comes to mind, not by the actual data. Here's how that mental shortcut distorts your money decisions.
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How Income Tax Brackets Work: Why Earning More Never Leaves You Worse Off
"If I take the raise, the taxman takes it all" is one of the most repeated — and most wrong — beliefs in personal finance. Here is how progressive tax brackets actually work, and why a higher salary always leaves you with more money.
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Confirmation Bias: Why We Only See What Confirms What We Already Believe
We seek out news that proves us right and dismiss whatever contradicts us. That mental shortcut, harmless enough in daily life, can be very costly when it comes to managing your money.
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Sequence of returns risk: why the order of your returns matters more than the average
Two portfolios with the exact same average return can end up with wildly different outcomes depending on the order in which the good years and the bad years arrive. Here's what to understand before you start withdrawing from your portfolio.
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Overconfidence Bias: Why Investors Think They Know More Than They Do
Almost every investor believes they are better than average, which is statistically impossible. This quiet bias explains why we trade too much, concentrate too much, and lose more than we need to.
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Spanish Treasury Bills: A Step-by-Step Guide to Investing in Public Debt
Buying government debt directly, with no management fees and no intermediaries, is simpler than it sounds. Here's what to know before you do it.
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The Sunk Cost Fallacy: Why We Keep Investing in What No Longer Works
We keep putting money, time, or energy into something simply because we've already invested so much, even when logic says to stop. It's one of the costliest biases in personal finance.
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Herd behavior: why we invest where everyone else is investing
Buying because everyone is buying and selling because everyone is selling isn't a strategy — it's a reflex. Here's how herd behavior works and how to switch it off.
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The Disposition Effect: Why We Sell Winners Too Soon and Hold Losers Too Long
Closing a winning position brings instant relief. Closing a losing one forces you to admit a mistake. That asymmetry, more than analysis, decides most sell decisions in a portfolio.
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