Lies & Truths - #2

With this post we began a series from the book, "The Lies My Broker Taught Me and 101 Truths About Money and Investing" (pictured next to the Veritas piggy bank).

In an introduction, Mark Matson has this to say.

This is an insider’s look at the industry. As representatives of a large brokerage firm, we were fed a steady diet of…investing lies. Most of these lies were subtly implied, NOT loudly proclaimed or put down in writing. Most of them were lies of omission. The underlying message was that by using brilliant and knowledgeable experts and money managers, it was not only possible, but likely, that you would consistently and predictably pick the best stocks and time the Market.

This was taught to us in countless seminars, presentations, brochures, conventions, mutual fund pitches, conference calls, keynote speakers, books, magazines, and industry articles. The industry propaganda brainwashed us to believe really smart experts could, over time, make investors rich.

The truth is…you don’t have to believe any of the lies we believed to be a successful investor.
Do we have you wondering just what those lies are? We will share all seven lies in the next installment of this series.