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Ideas Farm: Past performance is not a guide to... blah blah blah

The past shouldn’t inform our investment decisions. But it will anyway
January 20, 2022
  • Performance disclaimers need updating
  • The unintended consequences of health warnings
  • Lots of idea-generating content

In 1962, a young graduate student at McGill University called Leon Jakobovits submitted his doctoral thesis, which he called ‘Effects of Repeated Stimulation on Cognitive Aspects of Behaviour: Some Experiments on the Phenomenon of Semantic Satiation’.

Despite the jargon-heavy title, the psychology researcher was interested in a feeling that is probably familiar to us all. Specifically, Jakobovits wanted to explore why repetition can cause a word or phrase to lose its meaning and dissolve into empty sounds or shapes, and how this “reduction in the meaningfulness of symbols through their repeated presentation affects thinking”.

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