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How and When Should You Draw Down Your Pension?
Mental Accounting | Know Your Behavioural Biases: Part 11
Human beings like to sort things – we like to create order, we like to know where things are. We have a built-in need to spot patterns, which is why we like to sort music into genres, pore over the season record of our favourite football team or, for those of us old enough, arrange our CDs and DVDs in alphabetical order.
Loss Aversion | Know Your Behavioural Biases: Part 10
Our brains are strange. They can take something as predictably consistent and harmonious as numbers and turn them into a matter of subjectivity. The way that information is communicated to us can have significant effects on the conclusions we draw.
Hindsight | Know Your Behavioural Biases: Part 9
We often say hindsight is 20/20 – looking back, it was perfectly clear all along. It’s often an expression of regret – we should have done X when in fact we did Y and now look what’s happened.
Metis Ireland: Important Announcement
At Metis, we take pride in the personal, tailored service we provide. Over the years we’ve built strong, lasting connections … Continued
Herd Mentality | Know Your Behavioural Biases: Part 8
As Monty Python’s eponymous hero of ‘The Life of Brian’ once famously declared ‘You are all individuals’. We’d certainly like to think we are – from our choice of clothes, our holiday destinations or the cars we drive, right through to whether we’re a flat white person or more of the macchiato type.
Greed Bias | Know Your Behavioural Biases: Part 7
As Pulitzer Prize-winning journalist Mary Schmich famously said, “Whatever you do, don’t congratulate yourself too much, or berate yourself either. Your choices are half chance. So are everybody else’s.”
Framing Bias | Know Your Behavioural Biases: Part 6
Seeing the whole picture is something we’re frequently advised to do, in finance and other walks of life. It’s important to step back and look at the full picture – the problem is that our advanced human brains are often doing just the opposite of that.
