“We fear the awesome predatory perfection of the great white shark, and have made the Discovery Channel’s “Shark Week,” “the longest-running cable television programming event in history.”
This seems somewhat disproportionate, given that 10 people a year die from shark attacks — out of more than 7 billion people. If you want to fear a living creature, than logic suggests it’s the mosquito — they kill more human beings than any other animal on the planet. Man, be it through wars or murder or wanton disregard or simple benign neglect, comes in a distant second.”
–Bloomberg, October 22, 2014
It is inescapable: Heading into the July 4th weekend, local media are filled with accounts of shark sightings. It’s SOP this time of year, but then add in the 50th anniversary of the movie Jaws, and it’s even worse than usual. It’s true on Long Island, and it’s likely the case up and down the East Coast. It is simply a function of living near an ocean and having a media landscape that is desperate for eyeballs and clicks.
Yes, there are fish in the ocean. Mammals, too. We see sharks and dolphins and all manner of sea-based wild life.
I burn a few chapters in “How Not to Invest” explaining why the focus on sharks is a manifestation of two specific psychological issues. The first is simply emotional: Sharks are big and scary; the thought of being eaten alive is terrifying.
Second, shark attacks – like terrorism and market crashes – are rare events that are often discussed out of context. These are very low-probability occurrences compared to daily human experiences; we frequently lack a proper frame of reference for understanding just how unlikely these events are. (See more on Denominator Blindness here)
In 2024, there were 28 “unprovoked” shark attacks in the United States — and one fatality. (Globally, there were 47 shark bites)
More people died driving to the beach than were done in by sharks.
The nearby chart, via Gates Notes, reveals just how misplaced our fears are. Regardless, you should plan to enjoy the long holiday weekend, with minimal worry about the ocean’s predatory perfection…
See also:
Why fear is an investor’s worst enemy (Morningstar, Sep 25, 2017)
How NOT To Invest: Views From The Escarpment (Escarpment Advisory, April 29, 2025)
Previously:
What Kills You and Your Investments (May 21, 2014)
You Are Worrying About the Wrong Things (October 22, 2014)
Crashes & Terrorists & Sharks – Oh, My! (November 9, 2015)
Shark vs. Mosquito Deaths (April 26, 2018)
Shark Attacks Illustrate an Investing Problem (January 28, 2019)
Denominator Blindness, Shark Attack edition (February 5, 2019)
Your Chances of Dying (July 25, 2019)
For more information about “How Not to Invest” and where to buy hardcovers, e-books, and audio versions, please see this.
