Behavioral Finance

May 24, 2026

Hero header with title 'The House Money Effect' and subtitle. A 2x2 color grid: top-left gray block 'Lucky', top-right green block 'DISCIPLINED INVESTOR', bottom-left light gray 'Confused', bottom-right orange 'BIAS-TRAPPED'.

The House Money Effect: Thaler & Johnson’s 1990 Discovery on Why Prior Gains Make Indian Long-Term Investors Take Reckless Risks With ‘Profit Money’

Thaler and Johnson 1990 documented the House Money Effect — investors take riskier bets with prior gains. Indian retail F&O data shows the pattern at population scale. The defence is procedural: weekly net-worth aggregation, pre-committed position caps, 30-day windfall quarantine, decision journaling.

May 24, 2026

Bar chart of depreciation-to-gross-block ratio by fiscal year, rising from 14 (FY20) to 22 (FY25), with FY25 highlighted in green vs. dark blue bars for earlier years.

Depreciation-to-Gross-Block Ratio: How One Schedule II Disclosure Reveals Asset Newness, Implied Useful Life & Capital-Intensity Discipline

MGMANISH GOEL PMS☰ HomePast PerformanceServicesMedia & PressBlogsAwards WhatsApp · 7380122211 VALUE INVESTING · BLOG Depreciation-to-Gross-Block Ratio: How One Schedule II Disclosure Reveals Asset Newness, Implied Useful […]

May 24, 2026

Hero title: "Wonderful Business at a Fair Price" with subtitle about Buffett and Indian compounds, on a dark blue background.

Wonderful Business at a Fair Price: The See’s Candies Pivot That Reshaped Buffett’s Mind in 1972 – and Why It Justifies Owning Quality Indian Compounders Today

In January 1972 Buffett wrote a $25 million cheque for See's Candies - the single most consequential trade of his career. Here is why Indian value investors must abandon cigar-butt thinking and pay for quality.

May 23, 2026

Hero page with title 'The IKEA Effect' and four colored blocks: top-left Lucky (gray), top-right DISCIPLINED INVESTOR (green), bottom-left Confused (light gray), bottom-right BIAS-TRAPPED (orange).

The IKEA Effect: Norton, Mochon & Ariely’s 2012 Discovery That Labour Leads to Love

MGMANISH GOEL PMS☰ HomePast PerformanceServicesMedia & PressBlogsAwards WhatsApp · 7380122211 VALUE INVESTING · BLOG The IKEA Effect: Norton, Mochon & Ariely’s 2012 Discovery That Labour Leads […]

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