There are many things in finance that look smart and sound smart, and the numbers add up, but it's completely opposed to how the real world works.
Then there are many things that investors do that are not rational but is perfectly reasonable and align with how people's heads work.
For example, people own stocks that are closest to where they live. People who live in America only own US stocks, and those in Germany only own German stocks. It's not rational, but it's very reasonable. It's easier to invest your life savings in companies you're most familiar with.
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