enforced by banks, brokers, etc. • Governance by code, not by people – Nobody to hold accountable – Code is not always well-written – Velocity of transactions is very high, e.g., “flash loans” • Reliance on

aspects of biases comprising (1) emotional or preference biases: focusing on present rather than future incidents; (2) belief bias: making conclusion based on too small sample size while associated risks

individual has made. 6. Behavioural biases related to investing • Aware that investors may not always make rational decisions due to biases. • Provide examples of common emotional or cognitive biases that may

lasted through the quarter. 2. Net marketing margin decreased, compared to the previous quarter, as the retail price was unable to keep up with the velocity of rising cost, combined with the government’ s

E_1 Legal_FA_2015_12_29-c A CorpL4.1hig A Executive Summary of Management Discussion and Analysis 1 For the Year Ending December 31, 2019 Thai economy in 2019 showed decelerating growth at 2.4 percent compared to 4.2 percent in the previous year.The slowdown could be attributed to exports which contracted further due to the stronger Baht and a global economic slowdown. In addition, the investment environment of both the public and private sector remained weak, and private consumption, albeit gro...