Not so the big guys, Odean argues.
"For an individual to not believe that he's at an informational disadvantage when he's trading against guys from Goldman Sachs (NYSE: GS - News) is naive," he says. "It's like deciding to play one-on-one with a professional basketball player. You're going to lose."
Going with the crowd. Like children fighting over the same toy, investors are often attracted to stocks because others want them. In fact, individuals are much more likely to buy and sell the 10% of stocks mentioned in the news and ignore the other 90%, he found.
==============================================
Driving Lessons Glasgow | Driving Lessons