老师请问,Reading 1 第1.3小题的答案的第二点的narrower range我不能从题目中看出来,自己写出的答案写成这样,是可以的吗?
Overconfidence bias indicates people has unwarranted faith in their intuitive reasonings, judgements, and cognitive abilities.
Richard exhibits overconfidence in two ways:
First, 3-year annualized net return of Richard’s Self-managed Equity Portfolio is 9.1% which is same as the one of Passive Equity Index Fund. Richard’s portfolio is not outperformed than Mutual Fund and Index Fund.
Second, top 5 holdings in Richard’s portfolio weighted as 50% which is relatively concentrated positions, and it is much higher than the one of Mutual Fund and Index Fund. This demonstrates Richard has overconfidence in his portfolio.