Breaking the Anchor
This episode explores anchoring bias, the mental glitch where we latch onto the first number we see. Whether it’s a “sale” price based on a high original anchor or an investor clinging to a stock’s purchase price, these numbers warp our judgment. We discuss how 52-week highs and round numbers act as psychological magnets that distract from actual value.
Key Takeaways:
* The Blank Slate Question: Ask, “If I had cash today and didn’t own this stock, would I buy it at this price?”.
* Objective Checklists: Define your investment criteria (like PE ratios) before looking at prices.
* Blind…
The skinny
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