Saw a good post by arpit ranka who has a good blog on Value investing & Behaviorial finance.
This post reminded me of a comment by warren buffett on risk and tendency of investors to gamble everything on a single decision/ event ( The LTCM episode – where the hedge fund was full of these super brilliant guys, but still blew up)
from memory – ‘I have never understood why one would bet everything he has for something he does not need’
