Signs indicate that the stock market is on the way up, although bank failures now are up to 146  year to date, ahead of last year. Financial advisors will as always have to nudge investors towards taking a longer-term view, since the human tendency is to overvalue the immediate moment, resulting in what behavioral economists call “hyperbolic discounting.”

Hyperbolic Discounting By Stephen J. Huxley, Chief Investment Strategist, Professor of Business Analytics, Univ. of San Francisco

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