Behavioral Biases: The 15 Ways Your Brain Loses Money

Markets Are Rational — Investors Aren't

The efficient market hypothesis assumes rational actors. Reality: your brain evolved to survive savannahs, not to price stocks. Every one of the biases below has been documented in Nobel-winning research (Kahneman, Thaler, Shiller).

Recognize them, and you'll dodge the mistakes that keep 95% of retail investors underperforming the index.