New Delhi, April 4 -- Why do investors chase the past? Ray Dalio, the American billionaire and founder of one of the world's largest hedge funds, Bridgewater Associates, addressed a very common psychological trap in investing: 'recency bias' -the tendency to assume that current trends will continue simply because they've been happening lately - through a simple quote:

Today, we delve into this famous quote by Raymond Thomas Dalio, a.k.a, Ray Dalio.

Ray Dalio was born in 1949, became interested in markets as a teenager, studied finance at C.W. Post earned his MBA from Harvard Business School in 1973, and founded Bridgewater Associates in 1975 from his two-bedroom apartment in New York.

Over the next four decades, he grew Bridgewater int...