Investing Psychology Chapter 5: The Professional Magic Show (Part 1)
When we have a toothache, we go to a dentist. When we have a legal problem, we call a lawyer. So when we have money to invest, we go to a professional, right?
Survivorship bias
Trading and Exchanges Chapter 22: Predicting Performance and Why Most Traders Fail (Part 2)
This is the part of the book where Harris basically tells you that almost everything you think you know about picking winning traders is wrong. If Part 1 was about how hard it is to evaluate past performance, Part 2 is about why predicting future performance is nearly hopeless. And honestly, it is one of the most important chapters in the entire book.