Because they are so sure of their ability to pick winners, some people hang on to a stock even in the face of overwhelming evidence that its price is going to drop. These people are subject to

Question

Quizplus · Accepted Answer

Holding onto a stock despite evidence suggesting its price will drop due to an inflated belief in one's ability to pick winners is a classic example of overconfidence. This bias leads individuals to overestimate their knowledge, underestimate risks, and exhibit more confidence in their judgment and predictions than is warranted by the actual situation.

Because They Are So Sure of Their Ability to Pick