When investing, don't argue with fools

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Sat, 22 Feb 2025

The Dunning-Kruger effect is a cognitive bias in which people with limited competence in a particular domain overestimate their abilities. It's named after two Cornell University psychologists, David Dunning and Justin Kruger, who first described it in a 1999 paper.The basic premise is that unskilled individuals lack the expertise to recognise their own lack of skill. This overestimation arises from a failure to recognise the qualitative differences between their performance and that of others. It’s like asking 100 people i...

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