Herding Lizards - Doug French - Mises Daily

Herding Lizards - Doug French - Mises Daily: "The fact is, without the constant inflation of fiat money, people would (or have to) spend very little time thinking about their money or savings. Squirreling a little money out of every paycheck would suffice for retirement preparation."

"investors gravitate en masse to investments that are overpriced"

"Dopamine neurons are stimulated only if the rewards exceed the expectation. If investments work as planned, even if the result is good, there will be no rush at reward. And when results are less than expected, dopamine neurons are depressed — creating immense regret."

"Burnham points out that numerous studies show that people "reveal themselves to be proud. They are willing to lose money to retain their self-esteem." "

"Like thirsty animals on the African Savannah, humans are attracted to the speculative gains that financial markets promise. But, stopping for a drink is likely hazardous to our financial health."