Perhaps one of the most important lessons in finance - and for that matter, almost any walk of life - is the need to remove emotion from decision making. As human beings, we are wired to have emotions and react to things that happen to us, both good and bad, and think in a short-term mindset. We could go into a long detailed discussion of why this is (basically, it comes from the primal survival instincts that required us to be reactive to things around us), but that’s really not the point. The point is that we know that it . . .
