Investing and economics are not fields of exact science that run on a defined formula
While growing up, if a group of our friends were forming a cricket team and the question was put, “Who wants to lead?", all 11 hands would go up. We firmly believe we are perfect employees, perfect citizens, perfect parents, perfect spouses, perfect drivers, and, of course, perfect investors. But how can someone be perfect in all aspects? Welcome to a deadly emotional bias that has led to the downfall of great empires, “too big to fail" companies, artists and investment portfolios—overconfidence.