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Quote by Coreen T. Sol, CFA

“Money illusion is also why your Uncle John still gives you $50 per year for your birthday. That's the same amount that he's given you since you were born, and it used to be a tidy sum of money back then.”

Quote by Coreen T. Sol, CFA

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Coreen T. Sol, CFA

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“The more times in a row that the coin lands on heads, your confidence in calling heads will grow, even though the odds have not changed.”

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Author:Coreen T. Sol, CFA

“Anticipating the pain of regret if the odds don't play out as expected can impel you to play your hand prematurely. This is why a plaintiff may settle for a reduced award rather than take their chances in a court.”

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Author:Coreen T. Sol, CFA

“With gambling or investing, if your gains are quick and easy, you will tend to keep the money in a separate mental account. So, if you subsequently lose it, you won't feel as upset as you'd think if you lost the money you brought to the casino. Yet, they are both pots of currency.”

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Author:Coreen T. Sol, CFA

“You're more inclined to make a new investment after having success on your most recent transaction.”

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Author:Coreen T. Sol, CFA

“Each person sees life through their own lens, but what truly matters is knowing your path and the purpose that lights your way.”

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“Generally, you'll be motivated to sell sound investments and hold onto the bad ones because we prefer to feel good about the gains and avoid the pain of acknowledging loss.”

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Author:Coreen T. Sol, CFA

“In every case of frenzied investing and herd mentality, investors who participate later in the cycle operate at an elevated and often unnecessary risk.”

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Author:Coreen T. Sol, CFA

“Everyone who liquidates at the bottom of the market is quick to rationalize, ironically, that they decided to prevent further losses.”

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Book:Unbiased Investor: Reduce Financial Stress and Keep More of Your Money

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“Let me be brutally honest. Being an insider, I know exactly how these MBA guys think. And because I know who they really are, I have nothing but utter contempt for these professionals. Now you might think I am stereotyping and generalizing. Yes, I am, indeed. But get this thing straight. Only highly competitive people prepare for these entrance exams to these top-notch B-schools. Only those who have excessive cupidity for money, power and status, only such people enter these highly reputed management colleges. These people don’t have friends, instead, they have connections. It’s all about Moolah. It’s all about usefulness. You scratch my back, and I will scratch yours. You be my ladder, and I will be yours.”

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“Business is supposed to be fun. We're supposed to love what we're doing. Don't let these old folks convince you that business is about spreadsheets and MBA's and metics and all that stuff. That's all good, but ultimately business is just about adding value to other peoples lives and getting them to pay you for it.”

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Author:Hendrith Vanlon Smith Jr, CEO of Mayflower-Plymouth