When I was an analyst, I put together a portfolio of 5 stocks for my parents. The value doubled in 18 months, even though 2 of the 5 went bankrupt. After I was

When I was an analyst, I put together a portfolio of 5 stocks for my parents. The value doubled in 18 months, even though 2 of the 5 went bankrupt. After I was an analyst, however, I insisted there was nothing I could do for them that was better than index funds. They ultimately felt neglected, and went to a money manager, who of course charged them a lot for underperforming the market.