Here are two things everbody does, but nobody admits! January 24, 2010Posted by shaferfinancial in Finance.
Tags: everybody lies and cheats, stop lying to yourself
Telling lies and cheating! Now, settle down, I know you all are honest folk! But study after study has demonstrated that we really do tell lies all the time and we really do cheat often. It is part of what is called our underlying nature. Many times those lies are used to grease the wheels of our social life. “Honey, do I look good in this pink dress?” Well, well, well, how do you answer that question?
But probably the most insidious result of these facts are that we don’t change our expectations to deal with them. In the financial products field, this leads to the forgetting to actually look at real results instead of relying on good sounding theory. I mean how can people still be selling mutual funds with a straight face looking at actual results over the last 20 years? By making up something else about them that seems to be important, like expense ratio’s, or asset allocation, or theoretical results to keep you from looking at what you should be looking at, real results! Those little lies you know.
Maybe its time you stop believing whatever little lies are coming out of their mouths and start looking at actual results? Maybe its time to really understand what risk is and accept it as part of your investment strategy? Maybe its time you stop looking to them for all the answers and start looking inside yourself for them? I just saying…….