. Popular stocks on these platforms included tech companies like Amazon and Facebook, which have experienced outsize gains throughout the recovery, Roberge said. , marking one of the fastest bear-market recoveries in history. Investors who achieved double-digits gains with relative ease might see it as a feather in their cap.
"With that false sense of confidence, the only thing that's going to happen to you is you're going to get upset at some point in the future when that sector, that stock is not doing as well anymore," Roberge said. "And you suffer a 30%-plus loss and then say, 'Oh, the stock market is not for me. It's just a gamble. I'm done.
, agreed that there'd been a "false sense of confidence" afoot since the stock market skyrocketed from its lowest point during the pandemic.investors exhibit is overconfidence, often driven by an illusion of control. When investors believe they have control over a situation — which direction a stock will move, for example — they tend to overinflate their abilities and think situations are less risky than they are.
"It's a really challenging situation we face when we start to believe that our smarts, our active management is actually producing better-than-average results and all you have to do is continue to do those activities to make it work," Roberge said. Edmondson said he tried to help every client understand that there will be ups and downs in the stock market and that neither should be the sole reason they sell their investments. The only sure way to success for an investor, he said, isA selection of our best stories daily based on your reading preferences. Sign up for Insider Select.
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