as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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explain the meaning of the term "confirmation bias"
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confirmation bias is the tendency to focus on evidence that confirms one's pre-existing beliefs, while disregarding evidence that contradicts them. this results in people only searching for and interpreting evidence that supports what they already know or believe, which can lead to incorrect assumptions and inaccurate conclusions.
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