- 32d 22h 56m
Usually because it's an age and income bracket that is going to have people overly confident in their understanding. They are savy enough to read but they read the wrong things. They are engaged enough to know everything they should be fearful about, we just heard a few...The Fed, buybacks!, QE, ZIRP, etc. This little bit of information garnered is devastating leading to making the exact wrong choices. As I mentioned when their portfolio was smaller to their income they just "let it go" as it gets bigger the fear grows, they study a little, that feeds the fear more. The internet provides endless reading on why we are doomed tomorrow and how the market can't possible go up in the face of XYZ.why is this the case? this is me to a T.
If you were go through this thread it has a history of people who come in, say market looks rough and they are getting out and some of them that was a 1000 S&P pts ago. They won't ever catch up, and it's a shame. The market can be an incredible life changing thing for people but one thing it certainly isn't is easy. We have a tremendous enemy to our success staring us in the mirror everyday.