How do you make investment choices? Are your decisions based on rational analysis? Does emotion drive them? Conventional wisdom would assume that people make intelligent choices to increase their financial well-being by careful investing in the real world; however, people often have irrational behavior. Rationally consider how many people purchased lottery tickets in the hope of hitting the jackpot. From a purely logical standpoint, it does not make sense to buy a lottery ticket when the odds of winning are overwhelmingly against the ticket holder. Despite this, hundreds of millions of lottery tickets are sold every year in the same way many investment decisions are driven by the desire to win big rather than buy a long term diversified strategy. Your investment decision may have a significant impact on the quality of life you enjoy in the future.
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