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The costly bias nobody wants to admit #investing #finance #psychology
93% of people believe they are above average drivers.
Mathematically, that is impossible but it tells you everything about the human brain. We are systematically, predictably overconfident in our own abilities, especially when feedback is delayed and outcomes are uncertain.
Like investing.
Overconfidence makes us believe we can pick stocks that beat the market, time when to buy and sell., spot what professional analysts missed.
The data says otherwise. And it is expensive to ignore.
Full video https://youtu.be/ckUvu9wf5qk
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⚠ Educational only. Not financial advice.
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