FYI: Overconfidence bears the traits of many behavioural issues within investment – it is widely known, poorly understood and assumed to affect other people. Most of us are probably overconfident that we don’t exhibit overconfidence. Although there are memorable examples of overconfidence in action – such as the majority of people in a room believing they are an above average driver – there seems limited acknowledgement of what forms overconfidence can take or how it can influence our decision making.
Regards,
Ted
https://behaviouralinvestment.com/2018/09/11/investors-should-assume-that-they-are-no-better-than-average/
