WHY INVESTORS REPEAT THE SAME MISTAKES

Financial markets are narrative generating machines. Not only does modern technology mean that we have more stories being created than ever, but they are effortlessly disseminated and amplified. Add to this the ability trade in an instant and we truly have a toxic behavioural concoction.

There are no easy solutions here. It is not simply that we do not learn from our investing mistakes, but that we are likely to make more of them.

It is undoubtedly harder than ever for investors to behave well.