“The better-informed and cleverer you are, the more vulnerable you are to certain biases, such as motivated scepticism, because you are more able to destroy the arguments that you don’t like, but still feel no particular desire to examine the ones that you do. So it becomes easy to tear down silly arguments by your opponents, and so you become ever more convinced of your own brilliance and their idiocy or malignity.”
I see often investors believe what they do is right. Not because it is right, but because it feels right. The trick is to be open-minded enough to stop, think, and ask some better questions.