Nuggets of Investing Wisdom

Nuggets of Investing Wisdom

A website for serious investors in common stocks

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investment psychology

Fifty years – Beaten the market

  • by Rodney Smith
  • Posted on January 8, 2023January 23, 2023
  • Part 7: Building and Managing a Portfolio

It’s amazing that 2% makes such a big difference

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A set of rules to develop a behavioral edge – Part 7

  • by Rodney Smith
  • Posted on December 4, 2022December 4, 2022
  • Part 2: Human Foibles and Investment Decision Making

Subjective confidence in a judgment is not a reasoned evaluation of the probability that this judgment is correct

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A set of rules to develop a behavioral edge – Part 6

  • by Rodney Smith
  • Posted on November 27, 2022November 28, 2022
  • Part 2: Human Foibles and Investment Decision Making

The strong bias toward believing that small samples closely resemble the population from which they are drawn is also part of a larger story

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A set of rules to develop a behavioral edge – Part 5

  • by Rodney Smith
  • Posted on November 20, 2022November 20, 2022
  • Part 2: Human Foibles and Investment Decision Making

Our mind searches for confirming evidence that we are right and shies away from contrary evidence.

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A set of rules to develop a behavioral edge – Part 4

  • by Rodney Smith
  • Posted on November 13, 2022November 13, 2022
  • Part 2: Human Foibles and Investment Decision Making

Herding. All stock market prices are both the cause and result of herding behavior amongst investors.

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A set of rules to develop a behavioral edge – Part 3

  • by Rodney Smith
  • Posted on November 6, 2022November 9, 2022
  • Part 2: Human Foibles and Investment Decision Making

Our gut needs training. Many of our instinctive feelings are the exact opposite of what we should be doing.

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A set of rules to develop a behavioral edge – Part 2

  • by Rodney Smith
  • Posted on October 30, 2022November 2, 2022
  • Part 2: Human Foibles and Investment Decision Making

It is very important not to fall into the attractive trap of extrapolating the most recent past into the future.

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A set of rules to develop a behavioral edge – Part 1

  • by Rodney Smith
  • Posted on October 23, 2022October 23, 2022
  • Part 2: Human Foibles and Investment Decision Making

Today everyone is fretting about inflation and the potential for a recession. Trying to decide on the outlook for these macro-economic things can be a distraction.

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The search for a better guide to stock values

  • by Rodney Smith
  • Posted on October 2, 2022October 3, 2022
  • Part 7: Building and Managing a Portfolio

Can we improve on the accuracy of these estimates by obtaining estimates from, say, 22 leading investment banks and averaging them?

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Can we use heuristics to analyze a business?

  • by Rodney Smith
  • Posted on September 25, 2022September 28, 2022
  • Part 2: Human Foibles and Investment Decision Making

Adequate, though often imperfect, answers to difficult questions

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