mickeyd
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
I guess that Larry and Bill would include this gang in the 1% that DIY works for.
Should Average Investors Do It Themselves? An Alternative Viewpoint - CBS MoneyWatch.comLarry Swedroe recently wrote a MoneyWatch column entitled Should Investors Do It Themselves? In it, Larry referenced a piece written by William Bernstein in the Efficient Frontier entitled The Probability of Success, which presents four arguments against investors managing their own portfolios. Though interesting and persuasive, I must respectfully disagree with three of the four.
Before I start, let me offer a little candor. William Bernstein and Larry Swedroe are not only two of the smartest guys I know, but are also among the few white hats in the investing world. Both are prolific financial writers, and I ought to know since I buy and read everything they put out. In fact, Dr. Bernstein’s upcoming book, The Investor’s Manifesto, is one I ordered two months ago and predict will be sensational. So for the record, I am 99% in agreement with Bernstein and Swedroe. However, it’s the pesky little 1% that fuels this column. Or maybe it’s that tendency I have that seems to me to be devil’s advocacy, and seems to my wife to be argumentativeness.
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