Money gurus

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My friend came by recently and the conversation turned to the markets. He had come by  a good deal of money  the hard way and over the past few years placed most of it in the financial markets, losing as of last week,  about two-thirds of it. He spread it around in accord with the advice of a "well regarded investment advisor"  who sold him  a "diversified portfolio" of mutual funds.  Which brings us to the point:

These guys don't know one damned bit more about investing than you do. 

Write that on your hand. 

Like used car peddlers, they work for commissions.