The fact is that most people suffer from a low level of financial literacy. Doctors, executives, finance people and other smart professionals who are very successful with making money in their professional fields are just as likely to have a low level of financial literacy as other people. Ther
One of the major points about behavioral biases is that they are shortcuts that humans make to deal with certain situations. Shortcuts can either work for or against the person using them.
Because our world is so complex and to think in depth about each move we make would be overly burdensome, we develop shortcuts to easily deal with certain situations and events.
