Some common misconceptions about investment decisions include the belief that personal experiences and early adulthood experiences heavily influence investment decisions. Another misconception is that success and failure are solely determined by hard work and good decisions, discounting the roles of luck and risk. For instance, some of Bill Gates' success can be attributed to his unique opportunity of going to a high school with a computer, which was a rare chance in the '60s.
How should investors manage the inevitabilities of risk? What are the most powerful wealth-building...
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