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Idiots in Investing Echo Chambers

Mon, 20 Mar 2017 05:46:11 GMT

Investing in the Dead Some people like to wander round graveyards. I get the same sort of ghoulish pleasure out of frequenting investment discussion boards. They're full of Pollyannas, forever only able to see the good in the stocks they invest in. Sadly they're almost always wrong. But it's kind of fun watching them keeping the reanimated corpses of zombie stocks moving about through the power of sheer stupidity. The Glad Game Pollyanna was the eponymous child heroine of Eleanor Porter's 1913 novel whose main characteristic was a determination to find the good in any situation, no matter how grim.  Unsurprisingly, then, the Pollyanna Principle refers to the behavioural bias in which people see only the positive side of any particular situation, a trait otherwise known as exhibiting positivity bias. Pollyannaism may well have been a valuable evolutionary trait, enabling our ancestors to strive for continued existence in an unfriendly world devoid of anything my children...