Hindsight bias says to abandon your plan. Here’s why you shouldn’t.

Hindsight bias says to abandon your plan. Here’s why you shouldn’t.

Nearly 60 years later, many believe Decca should’ve recognized The Beatles’ talent immediately and predicted their future success. This is what’s called “hindsight bias”—also known as the “I-knew-it-all-along phenomenon”2—a tendency to believe we knew something was going to happen or that we actually predicted it. Hindsight bias exists prominently in investing.3 No matter the market […]