Smashing the Market Crystal Ball

Why must we constantly theorize about the future? We truly believe we can predict things. We do it with this Sunday's football games. We do it with the sex of unborn babies. And we most certainly do it with the market.

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Smashing the Market Crystal Ball

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"But the smart thing is to try not to predict market," says Meir Statman, a Santa Clara (Calif.) University finance professor, who does work on behavioral finance. "When you get on a plane, you don't predict if this one is going to go down or not. Yet with the market, we rush to the cockpit and try to steer the thing ourselves."

Is it that hard to leave things alone? ...