Jack Uldrich
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Unlearn Your Stockbroker

Posted in Business, Investing

There is already a 50% percent your stockbroker is below average. That's just the nature of statistical distribution. AfterStockbrokerST_450x300 one accounts for fees and expenses, it is even more difficult for your broker to consistently beat the market and thus earn you more money than you might otherwise make for yourself by investing in a low-fee diversified index fund.

Nevertheless, I recognize how difficult it may be for a person to severe a long-standing relationship with a broker. Therefore, I want to share with you an unlearning trick which may help you: Ask your broker to identify 5 stocks that will lose money over the next 6 months. (Unlike those stocks your broker encourages you to buy, this game has the benefit of not putting any of your money at risk. The risk, instead, is borne entirely by your broker.)

If your broker won't play: fire them. (If they are as confident as they usually claim to be, they shouldn't have any problem with this game.) 

If they do agree and their stock selections end up making money, you should also fire them because it will demonstrate how little they truly know about the market. 

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