Good Outcome, Bad Decision: How to Know the Difference

Most people save without knowing their real "why." Free exercise for Canadians to find it. https://research-tools.pwlcapital.com/research/goals?utm_source=research&utm_medium=planningtools&utm_campaign=ben_yt Looking at past outcomes to evaluate investment decisions is not easy for a human to grasp. We tend to have an illusion of control bias, where we overestimate our influence on outcomes. This can be particularly dangerous when it comes to investing. Referenced in this video: How Much Can I Spend In Retirement? - https://www.amazon.com/dp/B076J4NBBZ/ Does Past Performance Matter? The Persistence Scorecard - https://www.spglobal.com/spdji/en/documents/spiva/persistence-scorecard-march-2018.pdf Catch up on our latest investing advice, insights and white papers here. https://www.pwlcapital.com/teams/passmore-felix/?utm_source=youtube&utm_medium=copy&utm_campaign=ben2019&utm_content=investmentdecisions ------------------ Follow me on - Twitter: https://twitter.com/benjaminwfelix - LinkedIn: https://www.linkedin.com/in/benjaminwfelix/ PWL Capital Blog Post: https://www.pwlcapital.com/evaluating-investment-decisions-what-if-bad-things-happen-to-good-investors/ Follow PWL Capital on: - Twitter: https://twitter.com/PWLCapital - Facebook: https://www.facebook.com/PWLCapital - LinkedIn: https://www.linkedin.com/company/pwl-capital/ You can find the Rational Reminder podcast that I co-host with Cameron Passmore on Apple Podcasts: https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582?mt=2 Google Podcasts: https://www.google.com/podcasts?feed=aHR0cHM6Ly9yYXRpb25hbHJlbWluZGVyLmxpYnN5bi5jb20vcnNz Spotify Podcasts: https://open.spotify.com/show/6RHWTH9iW7hdnA7eAg7ukO?si=hjZNfLKuSjSeWX38GPqhVA #investing #strategies #marketefficiency