How "Market Knowledge" Is Robbing Investors - 0 views
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Daily Gains Letter on 24 Jun 13I have a friend who inherited a large amount of money just before the markets crashed. He bought a house and "Rolex" watch, retired, and decided to become a day trader. Unfortunately, he has no experience with the stock market, but it seemed easy enough to him. Since then, despite the five-year bull market, he has managed to lose a fair bit of money. This does not prevent him from telling those around him how they should invest-after all, he has a Rolex watch and no debt. Even with a dwindling bank account and an embarrassing investment portfolio, he still fashions himself a stock market dandy.