Avoid following the crowd when making financial decisions.

How to Apply This

Make sure the individual performance matters.
Show somehow how each person performs in your team so that they will put more effort in.
Calculate before deciding.
Instead of letting your intuitiveness fool you, calculate exactly the possible results.
Avoid auctions.
If your work demands you to go, write down the price of doing so and don’t go over it.
Do serious research.
Dig deeper. What is seeable on the surface may not be the most useful information.
Question every prediction.
Ask yourself: what incentive does the expert have? How good is his success rate?

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