This creates an incentive for "activity" rather than successful long-term outcomes. Predicting the Unpredictable : A major theme is the folly of market forecasting.
This single sentence, which you will find in the opening pages of any "Where Are The Customers Yachts Pdf," sums up the entire thesis of the book: Where Are The Customers Yachts Pdf
Today’s "customers" chase yield in SPACs, leveraged ETFs, and zero-day options. The "yachts" belong to the exchanges, the market makers, and the social media influencers who sell courses. The question “Where are the customers’ yachts?” has evolved into “Where are the customers’ Lamborghinis?” The answer remains the same: there are none. This creates an incentive for "activity" rather than
: The investor's need to "believe somebody" is perfectly matched by the advisor's need to "make a nice living". Human Psychology and Investment Folly Book Summary of Where are the Customers' Yachts The "yachts" belong to the exchanges, the market