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Presentation Slides: What Makes Us Bad Investors

By Morgan Housel - Jul 15, 2013 at 11:20AM

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Simple slides from a recent talk.

I recently gave a talk at the American Association of Individual Investors, and again at a Motley Fool gathering in Toronto. Below are the slides I used in the talks. (I removed a few that would have been too confusing without context.)

The theme of the talk is simple. Most investors underperfom a basic benchmark like the S&P 500 (^GSPC 1.73%). To me, that fact has always emphasized two points: That markets and the economy work far differently than we assume, and figuring out what makes people bad investors is a more important topic than what makes a good investor. 


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