Can someone explain this bias in simple terms with example. seems confusing…
Selective memory. You select/remember your correct views and forget about wrong views/mistakes.
If you are an anlalyst, and things go with your side/opinion, you would: yes…I knew it, I told you guys! forgetting about your other mistakes
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It means attributing your initial views or analysis to the outcome, when they had no basis but merely a coincidence.
thanku guys!
got cleared now…
look for cfapass wrote. that’s correct. the answer your thinking of is to broad and you’ll get mixed up with the other biases.
My answer is exactly what it means. Using past information to confirm past conjectures, when it wasn’t known then.