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Here’s why the stock market did what it did.

(Bloomberg Opinion) –A few weeks ago, we discussed retrospective prescience — why everyone is so amazingly good at explaining what just happened. Apparently unaware of our own hindsight bias, we spin comforting narratives to help us understand recent events, despite having no knowledge of how things would unfold in advance.

My explanation for the stock-market correction is at risk for these same behavioral errors.

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