Investors tend to do only as well as or just slightly better than the market due to

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Overconfidence bias is a common behavioral bias among investors, where they believe they have more control and knowledge of the market than they actually do. This often leads to excessive trading, higher fees, and ultimately, suboptimal returns. As a result, investors tend to do only as well as or just slightly better than the market.

Investors Tend to Do Only as Well as or Just