Ironically, the more investment savvy one is, the greater the likelihood an investor – especially an older one – will fall victim of scam, according to a study unveiled last week at the Securities and Exchange Commission’s “Seniors Summit.” The study shows that non-fraud victims correctly answered only 41% of specific investment questions, while the victims got 58% of the questions right. One reason, according to the study, is that a load of knowledge can be a dangerous thing, as the savvy seniors are less likely to consult professionals or seek advice, even from family members, and rely more on their own experience before making an investment. Anthony Pratkanis, the study’s author and a psychology professor at the University of California, Santa Cruz, says there should be a greater effort to educate senior about the social influences in investing.