In my opinion, this chapter was not written very well and I had to google some Youtube videos to really understand the concepts this time round.

Imagine you have two choices when deciding on an investment strategy.

Each strategy would either give a 'good' outcome or a 'bad' outcome that may or may not be related to actual investment returns. This is because, in some cases, a strategy may return less but do so in a way that gives you more psychological comfort. You can also assume that each strategy spans an entire investment philosophy so you can only engage in one strategy at any one time.

Suppose you have already have a strategy that works and gives makes you feel good 60% of the time.

Now, suppose you attend an investment course and the instructor shows you a totally new investment strategy.

Do you switch strategies and adopt what the instructor proposes or you