The unfortunate fact is that the individual investor has few, if any, attractive investment alternatives.
Investing, it should be clear by now, is a full-time job.
Given the vast amount of information available for review and analysis and the complexity of the investment task, a part-time or sporadic effort by an individual investor has little chance of achieving long-term success.
It is not necessary, or even desirable, to be a professional investor, but a significant, ongoing commitment of time is a prerequisite.
Individuals who cannot devote substantial time to their own investment activities have three alternatives:
- mutual funds,
- discretionary stockbrokers, or
- money managers.
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