How to Control Yourself When You're Overconfident

Peter: We tend to only buy those things that we believe are going to go up. As you stray more and more from 50-50, what that's telling you is not whether something is going to be successful, but just how confident you are. He says the more you can understand the intensity of the crowd's optimism or pessimism, the better you can play into it. "It's their psychology that you want to focus on more than your own," he adds.

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