In business/investing circles, this is known as "analysis paralysis." There is no limit to the amount of preparation you can do in anticipation of a big purchase or effort, but past a certain point the returns are not only diminishing but substantially negative due to the lost opportunity cost.
In a lot of contexts, taking action with incomplete information is better in the long run than spending a lot of time weighing every decision and taking fewer actions as a result. And there are studies out there that show this.
An example: Not that I advocate individual stock picking, but if you spend 3 months researching the best biomed company stock to buy, you may be decreasing your risk of picking a bad one, but you are just as likely to miss out on 3 months of positive market-based returns that you would have gotten had you just picked _any_ company with a positive balance sheet.
In a lot of contexts, taking action with incomplete information is better in the long run than spending a lot of time weighing every decision and taking fewer actions as a result. And there are studies out there that show this.
An example: Not that I advocate individual stock picking, but if you spend 3 months researching the best biomed company stock to buy, you may be decreasing your risk of picking a bad one, but you are just as likely to miss out on 3 months of positive market-based returns that you would have gotten had you just picked _any_ company with a positive balance sheet.