Authority bias is injurious to your portfolio
Don’t just act on the scary warnings of the experts and reduce your equity exposure
Here is a story: A young captain in the army once fell down a well by accident. Some soldiers saw this, rushed to his rescue and threw in a long rope. The captain caught hold of it and the soldiers tried to haul him out. But there was a small problem. As soon as the captain neared the mouth of the well, the soldiers would let go of the rope and salute him. The captain would again slip down the well.