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Being a "Non-Stupid" Investor is a Good Thing.

The 5-Laws Of Human Stupidity & How To Be A “Non-Stupid” Investor

by Lance Roberts of Real Investment Advice, 5/20/19 Is a good, but long, read.

This past weekend, I was digging through some old articles and ran across one that needed to be readdressed on“human stupidity” as it relates to investing.

The background was a study done in 1976 by a professor of economic history at the University of California, Berkeley. Carol M. Cipolla published an essay outlining the fundamental laws of a force he perceived as humanity’s greatest existential threat: Stupidity.

Stupid people, according to Cipolla, share several identifying traits:

they are abundant,they are irrational, and;they cause problems for others without apparent benefit to themselves

The result is that “stupidity” lowers society’s total well-being and there are no defenses against stupidity. According to Cipolla:

https://www.advisorperspectives.com/commentaries/2019/05/20/the-5-laws-of-human-stupidity-how-to-be-a-non-stupid-investor?bt_ee=2M1GUE%2B1KUucDNBYXDkAPMcd7I00rWaKD6ktE6DJ5AT1DznnnFZKm9wZ3iY53krd&bt_ts=1558712038982

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