> The pessimist will have to deal with it anyway but paying the price for a much longer time trying to avoid or “prepare for ” it. That's the nature of investm

> The pessimist will have to deal with it anyway but paying the price for a much longer time trying to avoid or “prepare for ” it. That's the nature of investment without perfect information. It's identical to insurance. Also, the abstract covered "unrealistic optimism" but didn't scrape "unrealistic pessimism." Which, clearly can be a factor, the same way you can easily be convinced to overpay for insurance in some situations.