5 когнитивных ошибок, killing your profitability

Джордж Дворский (George Dvorsky) once wrote: “The human brain is capable of performing 10 ^ 16 processes per second, making it a much more powerful tool, than any computer currently in existence. But that doesn't mean, that our brain has no serious limitations. A humble calculator can do calculations a thousand times better, than we, and our memory is often not very useful - yet, мы подвержены когнитивным ошибкам (cognitive biases), these annoying glitches of our thinking, which force you to make dubious decisions and come to erroneous conclusions". Cognitive errors are the bane of portfolio managers, because they reduce our ability to remain emotionally disconnected from money. As history shows, when it comes to investing your own money, investors always do the "opposite", что должны делать. They "buy at the maximum", as greed prevails over logic, and "sell at the minimum", because fear disrupts the decision-making process.