Behavioral Finance | Manish Goel Portfolio Management Service

April 19, 2026

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Overconfidence Bias: Why 93% of Indian F&O Traders Lose Money — How Barber & Odean’s Landmark Research, Validated by SEBI’s 2024 Evidence, Explains the Zerodha-Groww Revolution and the Anti-Overconfidence Checklist Every Serious Long-Term Investor Must Adopt

Barber & Odean's Nobel-adjacent 2000 study, validated by SEBI's 2024 evidence that ~93% of Indian retail F&O traders lose money, explains the meta-bias that makes every other cognitive error worse — and the 8-question pre-trade checklist that disarms it.