Why investing is a loser’s game



Research shows amateur tennis players lose most of their points through unforced errors. In 1975, investor Charles D. Ellis drew comparisons between this and the sharemarket, setting out some simple rules to help investors come out on top in what he termed a “Loser’s Game”. This was the topic of a recent cover story of The Intelligent Investor, Australia’s leading source of independent sharemarket advice.

It’s another fascinating chapter in the important saga of how the psychology of human misjudgement works against the average investor. Click here for the full article.

Peter Fray

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