Daily Oil Fundamentals
Hearsay and Gainsay
24 Oct 2025Hearsay and Gainsay
No one, including investors, is immune to recency and present bias. Humans tend to place more weight on current events than on past ones, or to settle for immediate rewards rather than wait for larger ones in the future. The former can cloud our judgment and impede rational decision-making, while the latter, called time-inconsistent preference in economic terms, can be viewed as a plausible synonym for headline trading.