The problem with finance isn’t that 80% of finance experts can’t beat the market, it’s that we make everything so inaccessible to the average layperson. You cannot convince the general population to hand over their hard earned money for you to manage unless you can convince them that you have some information advantage over them. The way financial managers used to do this is by using lots of cryptic terminology so people are discouraged from trying to understand something that’s inherently simple. Words like these make most people start to tune out immediately, including us:


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