In an article titled “The Internet and the Investor” (2001), Odean and Barber postulate that the Internet may be doing more harm to investors than good. At first that seems counterintuitive when we think of all the informational benefits. But Odean and Barber suggest that the vast amount of information online enables investors to easily locate evidence that confirms their hunches, which in turn leads them to become overconfident in their ability to pick stocks.
