Why Osama Bin Laden would have made a pathetic investor
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Recently, a stash of declassified documents seized in the US assault in Abbotabad, Pakistan was released to the media. These date back to the1990s and claim that bin Laden left millions of dollars to be used in ‘The Al-Qaeda leader’s will estimates his personal fortune of around $29 million at the time of his death in 2011. While it says the money’s stashed in Sudan, it’s unclear if it’s cash or assets. Bin Laden was in Sudan for over five years as a guest of the government.
Bin Laden was n atrocious human being, and he would not have been the smartest investor either. That’s because he shares a trait with the worst investors: the inability to view the markets objectively.
Back in 2015, the Office of the Director of National Intelligence also publicized a list of books found at Bin Laden’s in-home library. There are some common themes that emerge from the collection- the US is evil, Islam is the only real religion and most important events could have an alternative explanation with conspiracy theories. The stash includes the likes of ‘In Pursuit of Allah’s Pleasure’, ‘The Secrets of the Federal Reserve’ and ‘Killing Hope- U.S. Military and C.I.A Interventions since W.W.II’.
These books suggest Bin Laden showed a condition called ‘confirmation bias’. It’s a condition where one ignores people who are not completely in line with his thought process, and shuts out any alternate opinions or explanations. These people hold an abnormally strong core belief, and refute any evidence that points at any alternate results.
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It might seem callous to compare a terrorist to a bad
The only good news is if you’re a bad investor it’ll only destroy your portfolio and your clients’, and your life. Hopefully.
Image credit: Indiatimes
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