In this week’s episode of the Retirement Solutions Show, Ralph Hicks, David Hicks, Michael Hicks and Ryan Gilmore of the Oakmont Advisory Group discuss how your “herding” tendency could be harming your investment strategy.
Herd Instinct, or Herding, is the tendency to follow the trends you believe other investors are following, rather than trusting actual analysis. This can be especially dangerous when one follows a trend that does not align with their financial goals or circumstances.
In this episode, the team at Oakmont discusses:
- What is Herd Instinct?
- How we’ve fallen victim to Herd Instinct in our daily lives
- Examples of Herd Instinct that we’ve seen in our office
- How to avoid falling victim to Herd Instinct
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