The more data you provide to someone with a pre-existing belief, the more likely they are to align themselves with their belief, even though it’s contradicted by the evidence.
Your friendly broker is the biggest threat to your investments. If there’s once piece of advice I would implore you to adopt it’s to stop using the services of any brokerage firm.
I receive many inquiries from readers of my books asking my advice about recommendations they receive from their broker. Typically, these recommendations are in the best interest of the broker and his employer.
Many advisors ask me how they can emulate the conduct of advisors with the X factor. It’s a challenging question. I recently found it in an unlikely source: The commissioner of the National Basketball Association, Adam Silver.
It would be great if the financial media conveyed useful information to investors. If it did, you’d see headlines like these
Trying to find a mispriced stock is like looking for a blue sweater in your size that’s on sale at your favorite department store.