The title of my upcoming “Third Edition” of my book may have just one new word in it, but it signifies a monumental change for yours truly.
The new title shall be “Confessions of a Former Wall Street Whiz Kid.” Call it Catholic guilt and/or the aftermath of hanging up one’s soothsayer outfit, but I don’t think anyone who has made and lost millions for himself and his love ones more than once should continue to be called a “Whiz Kid”.
If this “attitude-adjustment” wasn’t enough, I also came to the conclusion that for most investors – do what the Monkey’s do when it comes to equity investing. This “former” whiz kid believes low-cost index funds are the primary path most investors should take when it comes to investing in the stock market.
This is an interview I did earlier this year with one of the most astute financial advisers I met in all my years in and around Wall Street. He speaks of a fund group that specializes in specialized low-cost index funds (many licensed advisers in my office use these funds in their alternative to traditional financial planning process).
“Monkey see, monkey do” may be a way of life among many who work in the financial services industry; but when it comes to investing in the stock market, take the monkeys over the hedgefund managers all the time!