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22. Liking Bias: So, if you are a salesperson, make buyers think you like them, even if this means outright flattery. And if you are a consumer, always judge a product independent of who is selling it. Banish the salespeople from your mind, or rather, pretend you don’t like them. 23. DON’T CLING TO THINGS: (Endowment Effect) We consider things to be more valuable the moment we own them. In other words, if we are selling something, we charge more for it than what we ourselves would be willing to spend. ( BMW example bought for $40000 instead of $50000 but refused to sell on 53000). This is true for stocks also. In conclusion: don’t cling to things. Consider your property something that the ‘universe’ (whatever you believe this to be) has bestowed on you temporarily. Keep in mind that it can recoup this (or more) in the blink of an eye

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22. Liking Bias:So, if you are a salesperson, make buyers think you like them, even if this means outright flattery. And if you are a consumer, always judge a product independent of who is selling it. Banish the salespeople from your mind, or rather, pretend you dont like them.

23. DONT CLING TO THINGS: (Endowment Effect)

We consider things to be more valuable the moment we own them. In other words, if we are selling something, we charge more for it than what we ourselves would be willing to spend.( BMW example bought for $40000 instead of $50000 but refused to sell on 53000). This is true for stocks also.In conclusion: dont cling to things. Consider your property something that the universe (whatever you believe this to be) has bestowed on you temporarily. Keep in mind that it can recoup this (or more) in the blink of an eye


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