Wednesday, February 07, 2007

Shriekers seek 'Idol' acclaim -

Ok, so the American Idol appears to have zero to do with finance (so much so I have NEVER watched a single episode, but I stumbled upon this in USATODAY and it does have a tie to behavioral finance--specifically some of the singers seem to have the same overconfidence that can negatively impact investors who trade frequently.

Shriekers seek 'Idol' acclaim -
"many singers don't know how awful they are. Reasons range from narcissism, with its ego-inflated self-absorption, to an obsession with fame.

'The very narcissistic honestly believe they are awesome even when there's no evidence' of it, says Dave Verhaagen, a Charlotte psychologist and author of Parenting the Millennial Generation. And he says that research suggests people who perform worst at a task often rate themselves best as a means of self-defense."

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