[ Money / Invest ] - ID: 30657
"[In stock market crashes fear and stress can have significant impacts:] The whole story of how humans deal with stress is really interesting, but there's one facet worth emphasizing. When people get stressed, they tend to dramatically shorten their time horizons. If you're a zebra being pursued by a lion, turning off systems for digestion, reproduction, immunity, and growth makes all the sense in the world because the chase will be done, or you will be done, in short order. But humans, who have many of the same physiological responses, are not dealing with a short-term threat, but rather a long-term system called the stock market. So taking a long-term view is absolutely crucial, although really hard. "
Michael Mauboussin

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