This journal entry discusses confirmation bias and how it can negatively impact decision making. Confirmation bias is the tendency to seek out and give more weight to information that confirms preexisting beliefs, and ignore or undermine contradictory information. The entry provides an example of how confirmation bias can cause investors to make poor decisions by only seeking out information that confirms their views on an investment and failing to consider different perspectives. Overcoming confirmation bias requires open-mindedly seeking out contradictory opinions to make better informed choices. The entry concludes that confirmation bias limits opportunities by focusing only on views that agree with preexisting opinions.