The Hidden Role of Chance in Life and in the Markets

Given these two reasons, the investor is remote better off only checking his investment inofttimes. If he checks it frequently and the news is only good once in awhile, as generally happens with investments, the umpteen times he checks and determines the news bad, he will be incurring not only that m each unpleasurable minutes but the many deleterious effects of displeasure, such as fear, worry, sickness, despair, depression, and myriad otherwise negative effects. If he checks it infrequently, he has greatly minimized his exposure to all of those deleterious effects.

2. The conceit behind the survivorship bias is that it is only the winner who is remembered in any scenario (Tal

eb). There may have a bun in the oven been other somebodys who tried to develop a teleph unrivalled, but black lovage Graham Bell is the one we all remember, because he is the one who succeeded.

Likewise, sports buffs who collect trading cards and remember runs batted in and other statistics remember the athletes that won the games; they rarely remember who lost unless the individual lost in a spectacular way. Thus, since many more than people lose than win, winning is what makes the winners stand out and sprain memorable. At its core, the survivorship bias is fueled by the fact that we find it easiest to remember what is most different. For example, if a man's daily life is fundamentally the same every day-going to work, coming home, having dinner, and go
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