Same as Ever

Risk, in investing textbooks, is taught as the stock market goes up and down. In the real world, risk is far more complicated, harder to define and different for every investor. Risk in the real world is not being able to meet your financial goals, which may be primarily caused by investors’ own biases and behaviors, particularly buying when the market is high and selling after a pullback.

Through a sequence of engaging stories and pithy examples, Morgan shows how we can use our newfound grasp of the unchanging to see around corners, not by squinting harder through the uncertain landscape of the future, but by looking backward, being more broad-sighted, and focusing instead on what is permanently true.