Rating: Bogey
Okay – I won’t order any more books by Swedroe, I promise!
Larry happens to be a part of an organization that I sort of connect with. One that espouses, that it is behavior more than special skill to be a successful investor. And YES, for every chapter of just crap, and confusion, I will find 1 sentence that strikes me as profound, so there is that.
Yet the big conflict for me continues to be how an author like this takes you on a journey of it’s so easy anyone can do it, but you need a specialist to do it… confused? Yeah, me too. Or how he just starts spewing Kurtosis, Sharpe Ratio, blah, blah, blah – and expects a client to get that? I just see books like this as a part of the reason many find the investment/advisory business a bit distrustful. Again, I recognize this, hell, I feel one of my first jobs is to help protect our clients from the financial industry.
What caught my eye: Active Investment Management has been called a ‘Losers Game’ – while possible to win, has odds of doing that are so low, it is not prudent to try.
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