By James E. Wilson via Iris.xyz
The financial futures of many Americans are being fretted away by brokers and banks.
A recent article by author Dan Solin titled The Average Returns Myth describes the hysteria of active mutual fund managers as they continue their mission of selling investors what might be called “The Black Box Hoax”. That is, brokers and banks want you to believe that they have” special knowledge”, i.e. a “black box”, and they are willing to let you in on this knowledge via their expensive packaged investment products.
The premise is that through superior financial analysis, their firm can identify which asset categories, (and fund managers), will provide stellar returns in the future and which won’t. It’s a huge fairytale with disastrous long-term consequences for many investors.
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