Are You Wearing Blinders That Could Spoil Your Financial Decisions?
Attend a horse race — perhaps at Santa Anita, Keeneland or Churchill Downs — and you will see some horses wearing blinders as they gallop down the track.
Those blinders keep the horses focused on what’s in front of them, allowing them to ignore anything that could distract from their primary goal — crossing the finish line ahead of the other horses.
One thing I’ve learned over my decades as a financial professional is that sometimes investors also wear blinders. Unfortunately, it’s not as beneficial for them as it is for a horse drawing cheers as it streaks
