Monday, September 23, 2013

The pros can't pick experts either...

I read the headline that billions of dollars is wasted on investment advice and thought - so what's new?

But then I remembered that the vast majority of those in charge of managing money actually think that they can pick winners.  They can't - and here's yet more evidence...

http://www.thereformedbroker.com/2013/09/23/dont-feel-bad-the-pros-cant-pick-managers-either/

Here's a link to the research paper.