The average investor: Asks someone else if a stock is a good buy/sell at $XX Follows what everyone else is doingNever makes meaningful gains that lastBuys whatever their insurance agent or relationship manager recommendsWonders why he/she is unable to retire The average investor is a victim, and easy pickings for the industry. They react to the news, follow all the best analysts, and pay through the nose for advice and services. Yet, they can’t seem to get ahead. They will never know what went wrong, as they did whatever was asked of them. Where are the Customer’s Yachts? There is a favourite story of mine. A visitor to New York goes to a marina, full of magnificent boats. Deeply impressed, he was told it was the yachts of the bankers and brokers. Naively, he asked where all the customers’ yachts were. There weren’t any. The customers paid for the...