No. of Recommendations: 1
The FI community tends to be full of investors who are against picking your own stocks because "you can't beat the market". I did my best to share a few reasons on why professional money managers often fail to beat the market and talk about why individual investors like us can succeed.



Brian, Homer and I have multiple accounts, but his main account was handled by a financial manager for many years. UNTIL the day he told us, "If you want to have enough money left, you will have to lower the amount of your disbursements."
"Excuse me?" "We gave you enough to start with and at one point you were building it up and now you tell us we no longer have enough money? Wasn't it your JOB to ensure we did have enough money?"

With that, I took over the last fund to manage it. Looking over the details, one of the funds he had us in made (are you ready for this) a bit over $300 in THREE YEARS!! I got us out of all the funds and started handling the investing directly. We are now making enough to handle everything and build the fund back up. It's stunning and sad how much money he lost.

With our experience, I would recommend that people have someone else handle their finances unless they know for a fact that they cannot and/or do not want to handle it because how well your accounts do will depend completely upon how much in the FA good graces you are at the moment.

Kathleen
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