Differenc between Conservative bias and Confirmation bias? both sound very similar to me.
conservative is slow to change
confirmation is choose info that suits what you want for investment
ok…do you change your initial investment allocation in any of these?
im not sure exactly.
conservatism means you are going to be less efficient because you are slow to change
confirmation means you are going to make mistakes when you invest because you dont properly process info correctly
both are cognitive biases that can be fixed.
confirmation bias is where you only use information that confirms your analysis and you disregard information that contradicts your analysis.
the way i remember is confirmmation means they are FIRM in their ways.