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Many experts warn against relying on Monte Carlo simulations to choose investments, because of the human tendency to see what we want to see. Psychologists call it Confirmation Bias. Steve and Sinclair discuss the pro's and cons of Monte Carlo simulation charts--and how they can lead to some very costly mistakes and poor money decisions!
By Steve Jurich5
22 ratings
Many experts warn against relying on Monte Carlo simulations to choose investments, because of the human tendency to see what we want to see. Psychologists call it Confirmation Bias. Steve and Sinclair discuss the pro's and cons of Monte Carlo simulation charts--and how they can lead to some very costly mistakes and poor money decisions!