No. of Recommendations: 0
JG,

Yes, if you know nothing about investing, and are lucky enough to find an ethical and educated broker (many brokers honestly think they're helping you by hopping in and out of stocks vs index funds. They're ethical, just not educated), it's possible for you to come out ahead vs investing on your own.

But investing through a broker will never beat a passive index fund strategy Bernstein recommends over the long term. Brokers are an added cost layer you'll have to pay for one way or another. You'd be nuts to even consider one after reading TFPOI.

Bernstein has no hidden agenda- he's telling you the truth. He recommends Vanguard (and DFA) because they're among the best products out there. People don't always act based on ulterior motives. I've been recommending Vanguard for a long time, too. Does that mean I have an agenda?

Nick
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