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Citation: https://www.businessinsider.com/forgetful-investors-performed-best-2014-9 https://www.businessinsider.com/forgetful-investors-performe...

senko 4y ago
That citation is an unverifiable retelling of a supposed anecdote: > one anecdote from an employee who recently joined his firm That page seems to be the only piece on the internet that contains this claim. If I had a dime for every "true anecdote" told by a thought leader or a consultant, I wouldn't need a 401k.
deleted 4y ago
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throw0101c 4y ago
An article from 2015: > Well, maybe. My Fidelity contact has not heard of such a thing, nor has Morningstar's Fidelity Canada contact. Suffice it to say that none of these citations came linked to the original source. (Such is the Internet.) * https://www.morningstar.com/articles/964493/from-the-archives-in-praise-of-the-dead-investors https://www.morningstar.com/articles/964493/from-the-archive... Unless the citation has fidelity.com in the link (or an archive.org snapshot of said link), I'm calling urban legend.
- O__________O 4y ago
  I mean, simple Google produced result I shared, which you might have easily cited to in your original request and added the clarification you just added, but you didn’t do that. Or strange thought, you could contact Fidelity and ask them yourself — and if it is urban legend, let them know, and suggest them survey their records and see if legend is true — since for sure mainstream media would cover it and given current economy likely be good for business too. Mean time, no shortage of research on the topic: https://scholar.google.com/scholar?hl=en&as_sdt=0%2C21&q=Dollar+cost+averaging+&btnG= https://scholar.google.com/scholar?hl=en&as_sdt=0%2C21&q=Dol...
  - throw0101c 4y ago
    > I mean, simple Google produced result I shared Yes, and that was an interview between Barry Ritholtz and James O'Shaughnessy of O'Shaughnessy Asset Management, and not someone from Fidelity. Here's O'Shaughnessy again on that anecdote: > 1/That story was told to me by a former colleague which perhaps allowed me to lower my guard on it. When I went looking for it, I found nothing. Pure Urban Legend. Underlying the importance of seeing the source material. My passing it on in an interview gave it more life. * https://twitter.com/jposhaughnessy/status/1155171083663925248 https://twitter.com/jposhaughnessy/status/115517108366392524... > Or strange thought, you could contact Fidelity and ask them yourself Many, many, other people have already done that, and Fidelity has told them there is no such study, as the link I cited states: > Well, maybe. My Fidelity contact has not heard of such a thing, nor has Morningstar's Fidelity Canada contact. Suffice it to say that none of these citations came linked to the original source. (Such is the Internet.) * https://www.morningstar.com/articles/964493/from-the-archives-in-praise-of-the-dead-investors https://www.morningstar.com/articles/964493/from-the-archive... > Mean time, no shortage of research on the topic: I'm well aware of the advantages of passive investing and practice it myself (as my comment history in this thread will show). But if you're going to encourage people to do it perhaps use studies that actually exist.
bluGill 4y ago
Intersting discussion. I found a citation years ago when I last shared the story, but I guess it was false.

senko 4y ago

That citation is an unverifiable retelling of a supposed anecdote: > one anecdote from an employee who recently joined his firm That page seems to be the only piece on the internet that contains this claim. If I had a dime for every "true anecdote" told by a thought leader or a consultant, I wouldn't need a 401k.

deleted 4y ago

[deleted]

throw0101c 4y ago

An article from 2015: > Well, maybe. My Fidelity contact has not heard of such a thing, nor has Morningstar's Fidelity Canada contact. Suffice it to say that none of these citations came linked to the original source. (Such is the Internet.) * https://www.morningstar.com/articles/964493/from-the-archives-in-praise-of-the-dead-investors https://www.morningstar.com/articles/964493/from-the-archive... Unless the citation has fidelity.com in the link (or an archive.org snapshot of said link), I'm calling urban legend.

O__________O 4y ago
I mean, simple Google produced result I shared, which you might have easily cited to in your original request and added the clarification you just added, but you didn’t do that. Or strange thought, you could contact Fidelity and ask them yourself — and if it is urban legend, let them know, and suggest them survey their records and see if legend is true — since for sure mainstream media would cover it and given current economy likely be good for business too. Mean time, no shortage of research on the topic: https://scholar.google.com/scholar?hl=en&as_sdt=0%2C21&q=Dollar+cost+averaging+&btnG= https://scholar.google.com/scholar?hl=en&as_sdt=0%2C21&q=Dol...
- throw0101c 4y ago
  > I mean, simple Google produced result I shared Yes, and that was an interview between Barry Ritholtz and James O'Shaughnessy of O'Shaughnessy Asset Management, and not someone from Fidelity. Here's O'Shaughnessy again on that anecdote: > 1/That story was told to me by a former colleague which perhaps allowed me to lower my guard on it. When I went looking for it, I found nothing. Pure Urban Legend. Underlying the importance of seeing the source material. My passing it on in an interview gave it more life. * https://twitter.com/jposhaughnessy/status/1155171083663925248 https://twitter.com/jposhaughnessy/status/115517108366392524... > Or strange thought, you could contact Fidelity and ask them yourself Many, many, other people have already done that, and Fidelity has told them there is no such study, as the link I cited states: > Well, maybe. My Fidelity contact has not heard of such a thing, nor has Morningstar's Fidelity Canada contact. Suffice it to say that none of these citations came linked to the original source. (Such is the Internet.) * https://www.morningstar.com/articles/964493/from-the-archives-in-praise-of-the-dead-investors https://www.morningstar.com/articles/964493/from-the-archive... > Mean time, no shortage of research on the topic: I'm well aware of the advantages of passive investing and practice it myself (as my comment history in this thread will show). But if you're going to encourage people to do it perhaps use studies that actually exist.

bluGill 4y ago

Intersting discussion. I found a citation years ago when I last shared the story, but I guess it was false.