I am fascinated by the success of the securities industry. They are able to convince you to part with your money by touting their expertise in managing it. They claim to have skills that don’t exist, like stock picking, fund manager selection, and market timing. No matter how often they are wrong, and no matter how much you lose by following their flawed advice, investors persist in the belief that someone has these skills. Investors go from one broker to the other, in search of an investment guru who can predict the unpredictable and add “alpha” (returns above a designated benchmark index) to your portfolio.
Persuading you they have this expertise is critical to the viability of their business model. They know you have an alternative.
Comentários