Shleifer draws on his previous research and the research…

Shleifer draws on his previous research and the research of others, grounded in substantial empirical work in markets, to reaffirm that investors using these backward-looking forecasts leads to short-term trends, with good news leading to expectations of more good news, leading to rising prices, or bad news leading to expectations of more bad news, leading to falling prices.

— from The Instruments (Awareness/Perception/Expectations)

Also belongs to

• The Heart in the Cockpit (Emotion/Awe/Anxiety/Regret/Empathy)
• Expanding Your Range (Growth/Change/Education/Learning/Habit)
• Decisions & Choices (Decision/Choice/Focus/Forethought/Consequences)

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