word
overconfidence bias
oh-ver-KON-fih-dens BY-us
ˌoʊvərˈkɒnfɪdəns ˈbaɪəsListen
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Syllable breakdown
overconfidencebias
Dictionary meaning
systematic tendency for investors to overestimate their knowledge, predictive ability, and control over investment outcomes; manifests as excessive trading, underdiversification, and underestimation of risk; research consistently shows that overconfident investors trade more frequently and earn lower risk-adjusted returns than those who acknowledge uncertainty
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