4 ms·
The advice your financial advisor gave you is no more insightful than the stuff you read in editorials and website forums. Financial advisors exist for the peo
by vmception 6y ago
The advice your financial advisor gave you is no more insightful than the stuff you read in editorials and website forums.
Financial advisors exist for the people that are predisposed to appealing to authority, and also have no time for that trade.
They are nowhere near as specialized as like an oncologist who you would still want a second opinion from. Most programmers have the cognitive abilities to pass a financial advisor's licensing exam with one week of preparation.
Just for perspective.
- anonu 6y agoAdvisors are about behavioral control. The last thing you want to do is have your advisor trading up a storm in your portfolio. They are not incentivized to trade because they have to justify it. You're not incentivized to have them trade because passive management beats out active almost all the time.