We have had Michael Lewis’s book Boomerang sitting on our bookshelf for a while now, but his newest book has stolen our attention.
The Undoing Project is about the Nobel Prize winning work done forty years ago by two Israeli Psychologists that completely changed our understanding of human behavior and behavioral finance. Our decision-making skills in uncertain situations follow patterns of irrationality; our minds are consistently fooling us and being led astray by the “gut instinct” and intuition, which can be hazardous to your wealth. Lewis is kind enough to offer some of the steps we can take to avoid being fooled, at least some of the time.
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