(Bloomberg View) -- Great bull markets are the easiest time for money managers, right? Actually, not for most professionals, who are generally most comfortable looking for -- and finding -- value in times of stress.
In reality, the current environment poses a big psychological quandary. It seems like all you need to do to be successful is just buy any stock, because it will inevitably go up. Buy high now and sell higher later.
The truth is, smart investors don’t trade to maximize expected value; they trade to minimize regret.
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