The enjoyment bias states that an inefficient investing strategy that you enjoy will beat an efficient one that feels like work.
The key to a lot of things in finance is maintaining endurance when there is a downturn. Loving the companies you buy or your strategies is a bias because it doesn't align with cold, rational thinking. But that emotional attachment to your investments keeps you playing during hard times.

Enjoyment bias

This bias is intentionally limiting your diligence to avoid decision paralysis since everything is more complicated if you dig deep enough.
At some point, decisions have to be made, which means you won't know everything and be okay with that.

Reasonable ignorance

We can become side-tracked if we are too preoccupied with mental errors. 
Some biases are underappreciated but can be lifesavers.

Not all biases are bad

When you are confronted with financial salesmanship, you are able to spot and avoid nonsense. Nonsense can be anything from overconfident projections to accounting gymnastics to fraud. What is common is a belief that the level of nonsense in a proposition should be proportionate to its marketing zeal. Skepticism, up to the point of cynicism around sales, can be a useful filter that saves you countless headaches.

Allergic to nonsense bias

There are timeless truths that you can learn from history. But some truths can become outdated. Things change, and you should pay the most attention to your modern world. The recent past is then the most relevant.

Historical discounting

There was a time when psychology was all about helping people get from bad to normal. How do you get depressed people to be OK? How do you make an insane person sane? Psychologist Martin Seligman saw how limiting this was.

Reasonable ignorance

Similar ideas to Reasonable ignorance

Our thinking rate is fixed

Awareness

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