Data deluge doesn’t help investors
Spencer Jakab
The Wall Street Journal
Wall Street traders surround themselves with screens, fund managers consult thousands of analysts and even retail investors now have access to a “fire hose” of information via their phones, says Spencer Jakab. But does all this information help? When millions of young investors opened brokerage accounts during Covid, many took cues from “influencers” only for their investments to suffer from confirmation bias (the tendency to find evidence that supports an existing thesis).
