Synopsis
Present bias is the tendency to unduly focus on ‘here and now’. It can even lure a thoughtful investor to abandon his existing long-term plans in exchange for instant gratification of his short-term emotions and desires. However, there are ways to avoid falling into this trap. Here are some practical tips.
How often as a child, were you told to sit still and wait? As kids, we were told to sit quietly when mom and dad were talking or were asked to wait for dinner before eating our favourite cupcakes. These were some of the hardest challenges our parents gave us during our childhood. Through these experiences, they sought to teach us the essential skill of delayed gratification — to sit patiently in the hope of a promising reward later. As
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