If I were asked to summarize the essence of behavioural finance into one sentence, it would be this –
The first rule is that you must never fool yourself. Second is that it’s very easy to fool yourself.
This quote comes from Richard Feynman who without an iota of doubt, was past century’s most brilliant theoretical physicists and original thinker. Winning a Nobel Prize and finding the root cause of Space Shuttle Challenger disaster were just some of the less exciting feats of his career. To communicate complex scientific ideas to his audience at all levels — that was his gift.
He wasn’t just a passionate teacher but an inscrutable prankster. Because of his transcendent passion for science and a robust appetite for jokes, he was described as “half genius and half buffoon” by his peer Freeman Dyson.
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