To help clients develop strategies for overcoming confirmation bias, financial professionals recommend the following steps: (1) actively seeking contrary viewpoints about desired investments, (2) challenging assumptions about historical trends, (3) conducting thorough research that includes opposing perspectives, (4) asking open-ended questions rather than seeking simple validation, and (5) regularly reviewing investment performance against objective benchmarks.

Authors

• Person: Not available Organization: William & Mary Online
  5 Behavioral Biases That Can Impact Your Investing Decisions

Sources

• 5 Behavioral Biases That Can Impact Your Investing Decisions online.mason.wm.edu William & Mary Online via serper

Referenced by nodes (1)

• confirmation bias concept