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May 13, 2021 8:18 AM newsfeedback@fool.com (Kailey Hagen)
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The human brain can run circles around even the most advanced computers in terms of storage capability and generating new ideas. But like any superpower, our incredible brains have their kryptonite and it’s making you a terrible investor. We know them as cognitive biases, and while there are hundreds, in this article we’ll focus on three of the most significant when it comes to investing.
1. Confirmation bias
Confirmation bias is the tendency to seek out information that confirms your current beliefs while ignoring information that challenges those beliefs. This sometimes leads you to overlook pertinent information and feel overconfident in your decisions. And it can make a loss feel like it came from out of the blue, when all the warning signs were there.