The endowment effect

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The Little Book of Main Street Money
Jonathan Clements
( http://www.wiley.com/ )

Markets may be rational, but we aren’t

Market rallies often last far longer than sceptics expect, observes Jonathan Clements in The Little Book of Main Street Money: 21 simple truths that help real people make real money. Bearish investors declare that the end is nigh, only to see skyrocketing share prices make a mockery of their forecasts, he adds.

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