SOMETHING FOR THE WEEKEND
Humour
Believe me, I’ve thought long and hard about how to get it through to people that the way most of us invest is idiotic; that we’re effectively funding other people’s retirement (plus their salaries and bonuses) more than we are our own.
My own preference is to appeal to people’s intellect. But, no matter how overwhelming the evidence in favour of low-cost indexing is, there are only so many times you can keep showing them the facts before most people switch off.
I’ve tried appealing to their emotions as well. Most of us don’t like the idea of running out of money before we die, or becoming a burden to our loved ones. But all too often more self-destructive emotions and behaviours hold sway and leave us clinging on to the belief that we’re better off doing things the way we always have.
The more I ponder this dilemma, the more I suspect that humour has a crucial part to play.
Other posts you may have missed..
More extraordinary revelations from the former head of the UK fund industry
Want to make active funds look good? Just use the wrong benchmark
Why do advisers keep recommending expensive funds?
Manage costs, ignore the noise and wait
Multi-manager funds — Who needs ’em?
Financial planning has nothing to do with products
Also worth reading..
What if God ran a hedge fund? (Wesley Gray)
The costly craving for explanations (Jeff Miller)
5 things smart beta can’t do for you (Joshua Brown)
Disciplined investors don’t rely on market predictions (Wade Pfau)
Compound interest is an offer you’d be mad to refuse (Monevator)
We don’t like randomness. We want explanations (David Snowball)
Don’t let the sound of your own wheels drive you crazy (Fran Kinniry)
The difference between institutional & individual investors (Ben Carlson)
At last, investors are starting to replace speculation with education (IFA.com)
Money managers who don’t add value are losing money in droves (Charles Stein)
Market panics are good for those with the staying power to outlast them (Jason Zweig)
Two great posts by Tim Richards..
Lessons in investing from science
When comfort blankets go bad — risk, perception & investing theatre
And a double-treat for Dimensional devotees..
Mark Hebner: An interview with David Booth, Part 1
Mark Hebner: An interview with David Booth, Part 2
Calling evidence-based advisers..
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Robin is a journalist and campaigner for positive change in global investing. He runs Regis Media, a niche provider of content marketing for financial advice firms with an evidence-based investment philosophy. He also works as a consultant to other disruptive firms in the investing sector.
