Bad advice

Bad investing advice can come from many quarters, such as wealth expos or financial advisors. If anyone promises you any type of return over 12%, 99% of the time, they are probably playing you.

There are great financial advisors out there, but many people who sell investment produ...

• If a professional advisor is too risk-averse, due to being liable for potential loss, the advisee suffers from a lack of good advice.
• If the advisor is too close to the advisee, things get personal and both parties try to compromise on the risky decisions so that the social bond is...

• We're solving the wrong problem: The first challenge that shows up is seldom the real issue.
• Our advice is not nearly as good as we think it is: Cognitive bias makes us think we're brilliant at things even though we aren't.
• Our advice mons...