Join Margaret Wittkopp and Jim Rosetti in today’s episode, they discuss the fallacy of stock picking. Matson Money defines the problem like this:
The belief that you need a forecast or prediction about the future to be a successful investor.
Listen in on this episode as Margie and Jim debunk this thought process.
(1:35) Defining investor prediction syndrome
(2:45) Scientific principles for investing
(5:00) Retail funds are actively managed by forecasters
(9:42) Stock picking leads to random results
(10:40) Egos can get in the way of successful investing
(12:06 ) Defining ’empirically tested’
(12:15) Equities outperform fixed assets over time
(14:33) No one can predict the future
(17:20) Fiduciaries act in your best interest and use plain language
(25:14) Creating financial awareness
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