A couple of years ago, I arranged to purchase an eight-week old beagle for my wife’s birthday. She named him Wally. Actually, she named him Wally about four decades ago when she first dreamed of having a beagle named Wally. Once Wally got his land legs, I soon found him doing the thing all dogs do. For no apparent reason, he would chase his tail. Everyone in the family thought it was so cute. Incredibly naïve, but cute.

Believe it or not, people who study these things call it “dog compulsive behavior.” This is similar to the human “obsessive compulsive behavior.” If we’re to believe a recent study, one of the primary examples of obsessive compulsive behavior in humans is their uncanny ability to consistently chase investment performance (see, “Why 401k Investors Chase Performance – and How to Prevent It,” FiduciaryNews.com, March 5).

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