Investing & the Dunning-Kruger Effect

Everyone wants to be viewed as competent, skilled, or excellent at tasks we undertake. Social psychologists David Dunning and Justin Kruger observed the tendency of the unskilled to overestimate their own ability, without ever knowing that they lack skill. Their 1999 paper, “Unskilled and Unaware of It: How Difficulties in Recognizing One’s Own Incompetence Lead…

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