Buy low, sell high. This mantra is the easiest, most straight-forward, non-controversial advice you can follow in investing, Risk Parity influenced or not. But what makes it so hard? Why do so many investors not only fail to do it, but actually do the exact opposite of selling low and buying high?
Clear, succinct and authoritative summary of relevant research on behavioral finance and how the principles can be seen among real-world investors. Chapter Seven, about mental accounting and portfolio construction, is a goldmine of insights for RP investors.