When investing, consider your “confirmation bias”
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November 17th, 2009 by Prieur du Plessis, Investment Postcards from Cape Town
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A recent study shows people are twice as likely to seek information that confirms their beliefs than they are to consider evidence that contradicts them. Wall Street Journal Intelligent Investor columnist Jason Zweig tells Kelsey Hubbard how this “confirmation bias” can influence their financial decisions.
Source: The Wall Street Journal, November 13, 2009.
Dr. Prieur du Plessis is an investment professional with 26 years' experience in investment research and portfolio management. More than 1,200 of his articles on investment-related topics have been published in various regular newspaper, journal and Internet columns, including his blog, Investment Postcards from Cape Town. He has also published a book, Financial Basics: Investment. Prieur is Chairman and principal shareholder of South African-based Plexus Asset Management, which he founded in 1995. The group conducts investment management, investment consulting, private equity and real estate activities in South Africa and a number of foreign countries. He also serves as Honorary Consul of Slovenia for South Africa, actively developing economic, cultural and scientific relations between Slovenia and South Africa. Prieur is 54 years old and live with his wife, television producer and presenter Isabel Verwey, and two children in Cape Town, South Africa. His leisure activities include long-distance running, traveling, reading, motor-cycling and scripophily. Read more from the author/contributor here.
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