Funding the Adventurous Life
When we make important decisions, we are often not as rational or objective as we’d like to believe. The base rate fallacy is the tendency to misjudge the probability of a situation by not accounting for all relevant information. This cognitive bias affects everything from first impressions to voting preferences to broad market behavior.
Continue reading “The Psychology Behind Poor Investments and Other Important Decisions”
Uncertainty is a fact of life, yet we yearn for known outcomes. Every day we make decisions. Some decisions are small and inconsequential, while others are profound and life-altering. Sometimes events happen regardless of our decisions. And above it all and looming like a nervous wind is uncertainty. Uncertainty is forever.
But those who learn to sit with and embrace uncertainty are resilient and innovative. Those who try to fight uncertainty spend more money and live with less contentment.
Continue reading “Uncertainty Is Forever (And That’s Good News)”