Investor incompetence might play a larger role in poor performance than you think. That's thanks to a phenomenon called the Dunning-Kruger Effect. To explain, Barry welcomes David Dunning to the podcast. Dunning is a professor of psychology at the University of Michigan. Dunning’s research focuses on decision-making in various settings. In work on economic games, he explores how choices commonly presumed to be economic in nature actually hinge more on psychological factors, such as social norms and emotion. See omnystudio.com/listener for privacy information.

Is contrarian investing a solid strategy, or a fool's errand? In this episode, Barry Ritholtz discusses the issue with Michael J. Mauboussin. Mauboussin is Head of Consilient Research at Counterpoint Global, Morgan Stanley Investment Management. Previously, he was Director of Research at BlueMountain Capital, Head of Global Financial Strategies at Credit Suisse, and Chief Investment Strategist at Legg Mason Capital Management. See omnystudio.com/listener for privacy information.