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As investors, we are constantly looking to improve our decision-making process. We want the Holy Grail that will empower us to recognize profitable opportunities and avoid money-losing investments.
However, as with most of what we do in life, our thinking and logic are influenced by biases. In this case, the outcome bias can deceive us. We may end up calling a bad decision-making process, good. And a good process, bad. Check out this one minute video to learn why this is and how to account for the outcome bias when making investment decisions.