Why Investors Are Folly

The notion of hiring somebody to invest your money for you has a fundamental flaw. If your advisor does well, both of you prosper. However, if he does badly, you lose your shirt, but nothing happens to him. In this situation, the rational thing for him to do is take extreme risks with your money. This is the root source of the Wall Street collapse.

~ Roedy (1948-02-04 age:70)