"It's better to be approximately right than precisely wrong."  -unknown

I was listening to Barry Ritholz's interview with Professor Andrew Lo from MIT yesterday and I actually drove the long way home just to catch the end of it.  What a fascinating discussion that touched on so many meaningful topics...

Anyone that has visited Italy may be familiar with an Italian concept called "La Dolce Far Niente."  Loosely translated as "The Sweetness of Nothing," it embodies the carefree approach to life that you may find strolling through Florence or Naples...

"Become more humble as the market goes your way." -Bernard Baruch

Thus begins a fantastic post by Ben Carlson over at A Wealth of Common Sense, all dealing with the psychological struggles of an investor in a bull market...

Recency bias is a common behavioral phenomenon where we tend to pay more attention to more recent data.  To take a step further, we often assume that whatever has happened recently (for example, a series of up days) will continue to happen...