Anchoring

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Anchoring

The act of basing an investment decision on irrelevant information. For example, if one bases the value of a stock on its price a year ago, one is practicing anchoring. This can be a dangerous practice, but it is also easy to do. Anchoring is a concept in behavioral economics, which states that people often make decisions based on their perceptions and feelings in addition to (and sometimes instead of) facts.
References in classic literature ?
This insistence in using the odious word arises from the fact that a particularly benighted landsman must imagine the act of anchoring as a process of throwing something overboard, whereas the anchor ready for its work is already overboard, and is not thrown over, but simply allowed to fall.
To speak with severe technicality, a ship or a fleet is "brought up" - the complementary words unpronounced and unwritten being, of course, "to an anchor.
He first cast anchor at Botany Bay, visited the Friendly Isles, New Caledonia, then directed his course towards Santa Cruz, and put into Namouka, one of the Hapai group.
As long as it went through more frequented waters, we often saw the hulls of shipwrecked vessels that were rotting in the depths, and deeper down cannons, bullets, anchors, chains, and a thousand other iron materials eaten up by rust.
But I decided to know positively, and at once, so, with the greatest caution, I commenced to climb slowly up the anchor chain toward the deck above me.
And so, for Jerry, vanished Tulagi, its Commissioner's bungalow on top of the hill, its vessels riding to anchor in the harbour, and Michael, his full blood-brother.
They left him regarding the weed-hung flukes of the little anchor with big, pathetic blue eyes, and thanking them profusely.
The anchor came up with a sob, and the riding-sail bellied as Troop steadied her at the wheel.
On the 21st of February the Tonquin cast anchor in the beautiful bay before the village of Waititi, (pronounced Whyteetee.
He slipped his anchors, leaving them buoyed to be picked up in better weather.
The car and its accessories, the anchors, the cords, the supplies, the water-tanks, which were to be filled on arriving, all were embarked and put away under Ferguson's own eyes.
To release her hold upon the chain and chance clambering to the ladder as her canoe was swept beneath it seemed beyond the pale of possibility, yet to remain clinging to the anchor chain appeared equally as futile.