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Jason Zweig: Investors Are Their Own Worst Enemies (The Wall Street Journal)
Jason Zweig of The Wall Street Journal writes that investors who receive constant news updates on their investors have lower returns that those who don't. He also argues that investors are their own worst enemies.
"One of the main reasons we are all our worst enemies as investors is that the financial universe is set up to deceive us. From financial history and from my own experience, I long ago concluded that regression to the mean is the most powerful law in financial physics: Periods of above-average performance are inevitably followed by below-average returns, and bad times inevitably set the stage for surprisingly good performance.
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