I just simply do not understand the knee jerk rejection of a whole category of investing, simply because of the fees involved.Well, the knee jerk rejection is because almost 100% of FAs don't deliver on the implied promise of beating the index or benchmark."You can only outperform the index by diverging from it.That almost always means losing correlation: your best times won't be at the same time as the best times for the market. You will underperform sometimes."Almost all people who use a FA don't understand this, and will yank their money away when the FA inevitably has a year or two of underperformance.The only type of FA that survives is the type that sticks close to the index -- which means that he does *not* add value, and therefore his fee is a deadweight loss.
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