More dreadful investors... Investment clubs
In the late 90s at the sunset of stock investing clubs we'd hear about successful club portfolios. One folksy group of old ladies in rural Illinois even had a series of best-selling books published about them. But their claims of fabulous success didn't hold up to rigorous audit.
People ** in groups ** are dumb. Investing clubs choose exciting, fun stocks making current headlines... like EV stocks. RobinHood holdings lag because HOOD amounts to a sort of investment club. Savvy investors who know better will "go along" to please the group.
How have the Beardstown Ladies done recently? They still exist I think, but they've been mighty quiet.
Great investing isn't often accomplished by committees at social meetings. Great investing is slow and boring.
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Because the Good Life is Just a Pump or Two Away
