From Tim Richards’ book, ‘Investing Psychology: The effects of Behavioural Finance on Investment Choice and Bias’.
We actively edit our lives and spend most of our lives doing things we’re at least average at and which provide a positive stream of feedback, which makes us feel good about ourselves. It’s unsurprising, then, that when most of us think about ourselves we generally have a positive self-opinion — after all, most of us have mainly positive experiences to remember once we escape the clutches of our parents...
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