In a complex world we increasingly have to rely on experts such as lawyers, doctors and scientists to guide us. We expect them to get things right most of the time and we sue the hell out of them if they don’t. In the world of investment, though, we get something different. They get it wrong most of the time, are never held accountable and generally argue that they actually didn’t get it wrong anyway and, if they did, it wasn't their fault.
Meanwhile people listen to these “experts”, take their advice, almost hero worship them at times and mostly get poorer while they make money at our expense. Who are the smart ones in this relationship?
