The Rules of Wealth, 4th Edition

RULE 58

By all means, use the investment professionals (but don’t be used by them)

As you’ve probably guessed from Rule 55, most of those who pick their own stocks like to think that they can see value where others can’t. Of course, we don’t like to look too often to see if our track record backs that up, and I’m sure many a Rules Player has made dumb investment decisions. If you don’t trust yourself to make clever decisions every time, or perhaps simply want to save the occasional investment decision for yourself and let someone who knows more than you do take care of the rest, then it’s OK to use the professionals. But make sure you use them wisely.

Now, pay attention to this bit – it’s really, really important. First, professionals will ...