The article explores how different types of beliefs among traders affect asset pricing. By using a model with a wide range of belief types, the researchers found that it can better capture the complex price fluctuations seen in real financial markets. They also discovered that the distribution of beliefs among traders changes over time, with some belief types eventually attracting most traders. The study shows that agents base their strategies on past performance, leading to evolving price dynamics. The researchers analyzed the impact of performance measures and predictors on future prices, both theoretically and numerically.