The Ignorant Are Fearless

Why is there such a phenomenon of the ignorant being fearless? Why do those who are like frogs at the bottom of a well often have a sense of superiority? Why do some people, despite doing work similar to that of a donkey in a production team, feel a strong sense of accomplishment?

The main reason for these phenomena is that ignorance itself is not frightening; what is frightening is ignorance without self-awareness.

When people evaluate themselves, they tend to overestimate their abilities. On one hand, this is because people are unaware of what they do not know; when lacking knowledge in a certain field, they cannot accurately assess their own capabilities. On the other hand, people are often influenced by self-centered biases, easily overlooking the opinions of others. This cognitive bias can lead to excessive confidence and a sense of uniqueness, causing individuals to ignore their own shortcomings and deficiencies, resulting in poor decisions and actions.

For instance, in the domestic stock trading market, big data statistics show that retail investors experience seven losses, two break-evens, and one profit. Many newcomers to the market believe they are exceptional and that they belong to the profitable 10%. Therefore, in order to make money, they behave very actively in the stock market, only to end up with disastrous results, realizing their mistakes only after losing everything.

In the trading market, I advise those new friends not to have the courage of a young calf that fears no tiger; your bravery in front of seasoned financial sharks makes you easy prey, vulnerable to a single blow.