Many retirees are victims of the dramatic reductions in interest rates and must adapt to meet changing circumstances.

See this article by Rodney Horin, Managing Director of Joseph Palmer & Sons (Vic), which appeared in The Australian on Tue 11 February, 2020.

Conforming under the pressure of peers is something with which most people are familiar. Professor Solomon Asch theorised about it and then used interesting experiments to test his thesis. Extrapolating for investment decisions, we can estimate that 30 per cent of investors will conform to peer pressure.

For those too young to remember, learn how the Poseidon affair created mass hysteria going up and catastrophic losses going down.