Business | Bartleby

The magic and the minefield of confidence

Self-doubt, hubris and everything in between

A man blowing his head with a tyre pump.
Illustration: Paul Blow

Confidence is contagious. Someone declaring a position with ringing certainty is more likely to inspire than someone who hedges their bets. “We may fight them on the beaches; it depends a bit on the weather,” would have been a lot less persuasive. What is true of Churchill’s wartime oratory is true in less dramatic circumstances. A study by Matthias Brauer of the University of Mannheim and his co-authors analysed language used in letters from activist investors; it found that more confident letters were associated with more successful activist campaigns.

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This article appeared in the Business section of the print edition under the headline “The magic and the minefield of confidence”

From the November 16th 2024 edition

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