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Weekend reading: A map of all our mental biases

What caught my eye this week.

I enjoyed the following comprehensive map of all the biases we face when using our brains. (Click through for a high-resolution version, the link is at the top of the page you’re taken to).

Every Single Cognitive Bias in One Infographic [1]

It’s pretty clear that to err is human. And pretty amusing to remember all the economics text books – and the odd Nobel prize – premised on the notion that we make perfectly rational choices.

Have a great weekend!

From Monevator

The latest Slow and Steady Passive Portfolio update – Monevator [2]

From the archive-ator: The bohemian investor – Monevator [3]

News

Note: Some links are Google search results – in PC/desktop view these enable you to click through to read the piece without being a paid subscriber.1 [4]

Markets and assets across the world are at record highs – Bloomberg [5]

The millennials making a living from live-streaming – Guardian [6]

Energy price cap will not take effect this winter, says industry – Guardian [7]

London property market ‘won’t bounce back until 2021’ – Telegraph [8]

Affordable homes in south-east England should cost £250,000 or less, says study – Guardian [9]

FCA urged to launch full probe into pension transfer advice [Search result]FT [10]

UK car sales slide for a sixth month amid falling consumer confidence – Guardian [11]

The new £10 that sold for £7,200 – ThisIsMoney [12]

Chart that reveals what an average Briton puts in and takes out of the welfare state at different ages.

The three ages of tax and welfare [Search result]FT [13]

Products and services

Battle of the Banks! First Direct and Halifax offer £125 to switchers – ThisIsMoney [14]

New HSBC app will show all your accounts in one place – Guardian [15]

The cashback credit cards that are still worth having – ThisIsMoney [16]

A quick history of the FTSE 250 – ThisIsMoney [17]

Comment and opinion

Would you accept a five-year lock-up on your index funds for an extra 1%? – Morgan Housel [18]

Financial news media doesn’t rhyme but it does repeat – A Wealth of Common Sense [19]

European active funds lag the market, just like US ones – Morningstar [20]

Why are European stocks chronically cheaper than US ones? – The Reformed Broker [21]

Art buyers find few investment masterpieces [Search result, detailed]FT [22]

The companies behind AIM’s incredible rally – Interactive Investor [23]

What it’s like to buy a house without a mortgage – Simple Living in Somerset [24]

Merryn: Active fund managers start to fight back [Search result]FT [25]

How various return factors have done in 2017 so far – Factor Research [26]

The September to remember – Investing Caffeine [27]

The Brexit fallacy – Evening Standard [28]

Don’t rely on the Bank of Mum and Dad [Search result, lots of ideas]FT [29]

Fighting evil with index funds [Podcast, skip first segment unless Canadian]Canadian Couch Potato [30]

Off our beat

Don’t eat like Warren Buffett… [An experiment]Business Insider [31]

…but eating like Elon Musk is okay [From 2016]Business Insider [32]

And finally…

“The unconventional, but inescapable, conclusion to be drawn from the past fifty years is that it has been far safer to invest in a diversified collection of American businesses than to invest in securities – Treasuries, for example – whose values have been tied to American currency.”
– Warren Buffett, Letters to Shareholders 1965-2016 [33]

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  1. Note some articles can only be accessed through the search results if you’re using PC/desktop view (from mobile/tablet view they bring up the firewall/subscription page). To circumvent, switch your mobile browser to use the desktop view. On Chrome for Android: press the menu button followed by “Request Desktop Site”. [ [38]]