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[Pata-Hari]

Há muitos outros exemplos deste comportamento imberbe. Os investidores que concluem que o melhor é serem eles a gerir porque o mercado teve um ano muito mau e os profissionais não tiveram performances que eles consideram aceitaveis (e assumem portanto que, naturalmente, farão melhor), ou que concluem que são melhores que a maior parte dos profissionais porque fizeram trades de alto risco que num periodo de tempo curto e com montantes pequenos deram melhor reusltado que uma gestão diversificada e com infinitamente menor risco, os investidores que concluem que uma classe de activos é o poltergeist porque correu muito mal numa dada altura.... com tempo lembro-me de mais uma data de exemplos.

[LTCM]

Investors who overweight their personal experiences are the teenagers of the investment world. Just like proto-adults they overweight their own experiences over and above the sage advice offered by their long-suffering parents. Although, when they get dumped by their latest hot stock at least they don’t usually throw shoes at their dad, scream “I hate you” and lock themselves in the bathroom for hours on end. Well, not always.

The propensity of investors to place undue stress on personal experience is likely to lead to non-optimal investing strategies, particularly when one of the market’s not infrequent upsets occurs. However, it’s also likely to lead to other basic mistakes by inexperienced investors – to invest in stocks that are familiar to them rather than ones that offer the best value. Worst of all it may lead them to weight their portfolios towards the worst possible selection as far as risk goes – their own employers.

http://www.psyfitec.com/2009/10/puke-do ... milar.html