/biz/ - Business & Finance

i once recall a presentation by an actual hedge fund manager who quoted pic related. He talked about how although markets may change, elements of its participants do not. He continued, discussing how fear is hard wired into the human brain, and that fear as it happens, is generally activated by the lower part of the lizard-monkey brain rather than the thinking side. That is, when people are scared, they stop thinking, and that when they panic, they make dumb moves -- opportunities to be taken advantaged of

He concluded by joking how he made a living taking money from people who had no business making decisions in the market by being on the other side of their trades, and then offering them advisory/management fees once they give up. He then uses their money to keep beating to a pulp "scared money, weak hands, greedy pigs"

Some things are different, but some things are always the same.