Love may make the world go round but it's psychic energy that makes portfolio performance rock. It is essential for making critical judgments — the kind that guides buy, sell and sizing decisions. Research shows that judgment is highly dependent upon the availability of psychic energy, the same energy that fuels conscious thinking, self-control, and perseverance.
Having too much confidence and developing an ego can plague the way investment decisions are made. Continuous decision-making can also easily cause fatigue and burnout, which hinders active decisions while favoring passive ones.
This essay examines the role that decision fatigue plays in investing and describes how self-awareness and process can keep your portfolio energized.
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