Mental mistakes that you, as an investor, can make include:
• Anchoring thoughts to irrelevant data, such as the historical price of a stock. This could lead, for instance, to not buying because the stock was cheaper last year.
• Doing nothing because of information overload.
• Actively seeking out information that confirms opinions you already hold.

To overcome such biases, you can:
• Actively seek out informed people with different viewpoints from your own.
• Force yourself to recognize that your wealth is linked to the market value of your position today, not on the day you bought the asset.