What about the investors who believe Jim Cramer has stock picking expertise, and don’t understand it’s “just entertainment.”
The goal of any meeting is to treat all participants equally. While easy to state, it’s surprisingly difficult to achieve when the advisor is male and one (or the only) participant is female.
You’d be amazed at how many people believe Jim Cramer has the ability to pick “hot” stocks and pundits predicting doom and gloom can foretell the direction of the market.
Financial market gurus would like you to believe they can predict the future. Ignore them! They’re emperors with no clothes.
Before I started to mediate, I overreacted to anything negative, obsessed over dumb (and often trivial) mistakes I made in the past, and worried about the future.
The endowment effect causes investors to eschew data and cling to discredited notions of investing because of their misplaced faith in their broker and their mutual funds and stocks.