The average investor doesn’t get much respect.
If we aren’t being accused of inflating bubbles and chasing trendy stocks, we’re denigrated as panicky when the market corrects and contrarian indicators when the market moves higher.
But if that’s the case, why is the stock market so hard to beat? After all, the market reflects the actions of all investors. And if individual investors are always doing the wrong things, it can’t be too hard to triumph over them.