Hello,

Very interesting findings.

"About 9% of those surveyed believe that investors with five to 10 years experience are most susceptible to errors. This suggests an interesting possibility: Could those with less experience lack decision-making authority and thus have less agency to commit mistakes?"

Not necessarily.

I would like to suggest another possibility: complacency. Let me explain my thinking: suppose those with less experience (0 - 5 years) are extra careful not to commit mistakes because they fear the consequences (e.g. job loss as a result, blow to a fledgling reputation) and are able to avoid mistakes during that period of time, suppose once they reach a more experienced level (5 - 10 years) they start to be a little bit more complacent, after all they never made a mistake in the past, hence could feel they won't make mistakes in the future, and then let some of their guard off at some point.

Training, knowledge, experience, 4 eyes principle, good risk management behaviour and systems are all mitigating factors of course. But in the end, we are all humans (still?), and humans are prone to making mistakes.

In my humble opinion, learning is a lifelong process.