We examine overconfidence among equity mutual fund managers. While overconfidence has been extensively documented among … retail investors, evidence from professional investors is scarce. Consistent with theories of overconfidence, we find that … overconfidence is task-specific. Our results are not consistent with an increase in trading activity by fund managers when rational …

We examine overconfidence among equity mutual fund managers. While overconfidence has been extensively documented among … retail investors, evidence from professional investors is scarce. Consistent with theories of overconfidence, we find that …