A Win For Irrationality

Imagine a person who always, in every circumstance, makes rational decisions with his money.  He saves when he ought to and spends exactly as he should spend, in order to maximize the “utility” of whatever wealth he happens to possess.  He defers gratification with ease.  When he invests, he ...

Sam Swift, CFA, CFP®, AIF®

Oct 12, 2017

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