I now decide upon my stock portfolio by throwing a dart at a dart board.
If you only put S&P 500 companies on the dart board, your investment strategy will in long term resemble investing in passive index funds, which I was told is the smartest way to invest money.
People are leaving a lot of money on the table for status reasons. Deciding the portfolio by throwing a dart yourself is considered low-status, paying fees to credentialed people to do the same thing is considered high-status.
tl;dr—investing at stock market is not about investing at stock market
If you only put S&P 500 companies on the dart board, your investment strategy will in long term resemble investing in passive index funds, which I was told is the smartest way to invest money.
People are leaving a lot of money on the table for status reasons. Deciding the portfolio by throwing a dart yourself is considered low-status, paying fees to credentialed people to do the same thing is considered high-status.
tl;dr—investing at stock market is not about investing at stock market