3. Strategies in Quest of the Ideal Investment

Whenever I mention my professional background to people for the first time, they almost always react by asking me for investment advice. The expectation is that, as an insider, I can relate a nostrum for their haphazard investment endeavors that will put them on a sure track to stock market riches. After trying to change the subject, my normal response is to first inquire as to their goals, requirements, and financial situation. And the predictable reply I usually hear goes something like, "Well, my broker has put me in a bunch of stocks and mutual funds, and I have lost money in...." Individual investors sure need help, and it is not coming from Wall Street. Casual investors seem to believe that ...

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