As I grew older, I seem to be able to appreciate Carl Richards latest article more and more. Folks should tune in to his weekly column. I soon realize that we are all long term investors when volatility is low and unable to hold when volatility spikes. I see that in my own behavior. And this knowledge means that I have to refine my system knowing that I have this flaw and I should take care of it. There is a hidden cost to why even when your unit trust or mutual funds perform not as expected, your results could be even worse. And that is used to a person not being conscious about the behavioral traps that he can succumbed to.

As Morningstar’s data shows, the average equity mutual fund in the United States had a 10-year average return at the end of 2013 of 8.18 percent. The ...

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