The Entire Investment Advice Industry Is a Sham

"The Entire Investment Advice Industry Is a Sham"

"This is not even a secret! It has been amply demonstrated many times before that active investment management — which means you paying a smart guy in a suit to pick where to invest your money, on the assumption that he will give you a better return than you could possibly get on your own, because hey, he's a professional, and has a nice suit—does not generally pay for you, the investor, once you subtract the fees that you pay to these god damn investment advisers. And yet the industry persists! "