Investment Blunders of the Rich and Famous...and What You Can Learn from Them

Preface

How can I become a better investor?

This one question is the source of an entire financial advice industry. Magazines, newspapers, books, TV shows, radio shows, and Internet sites are dedicated to the topic. With all this advice, why aren't we better investors?

Many of these sources of advice manipulate our hopes, dreams, and fears in order to get us to pay attention to their show or buy their magazine. It works. We are often drawn to bad advice simply because it is packaged in an exciting way. I have known financial advisors who were terrible at investing, but had many clients because they had a lot of flash and were great marketers. I have also known financial advisors very good at investing whose client base grew slowly because they didn't ...