CHAPTER 5If You Don’t Know Who the Sucker Is at the Table, It Might Be You!

Overheard during a high‐net‐worth conference:

“I don’t waste my time reading or listening to presentations by advisors because they’re all just glitz and marketing.” He further explained, “I rely on recommendations from other investors like you, and I make my choices with far more confidence.”

If you feel that your super‐smart friend’s recommendation is sufficient due diligence, or you believe everything you hear from a cocksure financial guru, you are bound to wind up being the sucker at the poker table or the conference room table (i.e., a loser with no winnings).

In today’s world of 24/7 online advice, with so many gurus claiming to know which way the market is headed and when the Fed will “taper,” how can you discern who is really the best? This chapter will show you how to avoid being suckered—that is, how to see past the glitz and your own very human tendency to believe false promises.

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What’s in this alphabet soup?

There are myriad ...

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