Investors' Overconfidence Linked to Experience and Age in Financial Markets.
The study looked at overconfidence in financial markets among different types of investors. They found that institutional investors, investment advisors, and individual investors all show different levels of overconfidence. Surprisingly, more experienced investors tend to be less overconfident, while younger investors tend to be more overconfident. This suggests that experience and age play a role in how confident investors are in their decisions.