Individual Investors May Not Be “Dumb Money” After All

In a recent article for The Wall Street Journal, columnist Jason Zweig writes, “Bit by bit, the myth of the ‘dumb money’ is dying.” Although Wall Street has long characterized individual investors as being “ill-informed, fickle and hapless” and therefore in need of fee-based advice, Zweig argues that the claim is “nonsense” and that “new evidence of its foolishness is piling up fast.” He cites a recent study of Vanguard Group clients that shows them… Read More