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Special Section Investmental illness: A guide to getting well

Investors suffering from allaboutmesis have inflated opinions of their own investment acumen while blaming others for mistakes.

Allaboutmesis

Many investors afflicted with economic narcissism disorders succumb to self-attribution bias. They tend to claim credit for successful decisions, while minimizing their own involvement in unsuccessful ones. They may blame others, such as an adviser, a family member or the media for their own poor decisions. (A somewhat related disorder, investment amnesia, is simply the inability to recall bad decisions.)

As a result, investors suffering from allaboutmesis have inflated opinions of their own investment acumen. Symptoms include the following:

Allaboutmesis symptoms:

"A lot of clients brag about how well they've done," says Matt McGrath, financial planner with the Miami area wealth management firm Evensky & Katz."We always invite them to bring in their statements so we can help them track their outside investments. Somehow few people actually come up with the goods."

-- Posted: July 31, 2006
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