Past performance is no guarantee of future performance, yet how many of our decisions rely on what happened in the past? At the New York Times we’re discussing what we risk when we anchor our decisions on past value. This habit hurts us most when it comes to how we think of money. We can’t let ourselves get caught up in the idea of what we “think” something should be worth versus what it’s actually worth.

The Mental Anchor of Money Mistakes (New York Times)