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natural skeptic, perfectly. Rather than buy low, sell high, the short seller is attempting to sell
Michael Batnick, “Distractions Cost Investors 115%,” The Irrelevant Investor, August 10, 2016.
cognitive dissonance. For example, ask anybody if they have the ability to predict the future. They might look at you funny, and say, “Are you asking me if I have a crystal ball? No, I do not.” Okay then, do you select individual stocks. And do you regularly buy and sell them, in anticipation that their future price will be higher or lower? These people are paying lip service to the idea that they can't predict the future, because their actions contradict their words.
Four out of every seven common stocks in the United States have underperformed one‐month Treasury bills. And because there are so many lousy stocks, there's a high probability that over time, you will be exposed as an ordinary person, possessing no superior stock‐picking ability than the person sitting next to you. And being wrong again and again and again is mentally exhausting, especially when it comes to something as personal as money. Investors would be a lot better off financially if they would just keep their personal finances personal.
