Behaving Badly

From James Montier an excerpt from his “Behaving Badly”:

“None of us are immune to behavioural biases. Those who have attended my teach-ins on the subject have had a short test inflicted upon them. This note provides both a copy of the test (for you to try) and an analysis of the results from our sample of 300 fund managers. I will say no more to avoid influencing your answers. But my faith in behavioural finance is stronger than ever!”

Read full paper “Behaving badly” (PDF)