The illusion of control: Why so many believe they can beat the market in India
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Stock markets have an irresistible allure. The possibility of generating outsized returns entices countless investors into believing they have the edge over the market. In India, stories of rapid economic growth, booming tech sectors, and financial inclusion further fuel this belief. But how many investors consistently beat the market? The harsh reality: very few. Yet, the illusion of control – the tendency to overestimate one’s ability to influence outcomes – persists. India’s digital transformation has democratized investing, allowing millions of retail investors to enter the stock market. But with this access has come overconfidence. From influencers touting overnight gains to retail platforms simplifying stock picking, many believe that beating the market is just a matter of effort and timing. But is it? Firstly, Why do investors think they're special? At the heart of the illusion of control is overconfidence. Many investors, espe...