Our society places a high value on confidence and most people identify it as a key element for success in life. But does it necessarily hold true for successful investing?
In daily life when we talk about confidence we are referring to the degree of certainty that we hold in the validity of our knowledge, predictions about the future, or decisions. In other words, self-confidence reflects our opinion about our own abilities. However, not everyone is realistic about their limitations and their abilities.
People that lack confidence are at one end of the spectrum. They underestimate their understanding of the …Read More