The daily lives of each of us, whether in the private or public sectors, working or retired, born here or immigrant, share the bounty Australia delivers.

Intermediaries perform unique tasks that create benefits for those seeking products and services and those who provide them. They lubricate to reduce market friction in commerce, diplomacy and personal matters. 

Our financial fabric could not be the success that it is today without its vast intermediary force.

In its simplest form, extrapolation bias is the tendency of an investor to overestimate recent events when making decisions about the future. In short, to forecast overly optimistically in rising markets, the reverse when they have fallen. This bias, as with so many related to personal investing, does not serve investors well.