(Bloomberg View) – Why are investors so often surprised?

Astonishment, shock, alarm, disbelief, wonder, amazement – pick any synonym you want, we seem to be genuinely surprised by what can only be described as ordinary events. At least, that is how things look when emotions are no longer running high and in the cool light of hindsight. There are in fact many reasons that help explain unfolding events in ways that are rather curiously described as "unexpected."

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