Index fund advice from an unlikely source...
I saw this in a Jean Chatzky Newletter and I found the advice about index funds interesting & encouraging.
Interesting piece Theresa. Thank you for sharing.
It sounds like the "sophisticated" investors who still gave Madoff money were trying to get some reward without doing any work.
Anyone who thinks it is possible to beat the market without doing any work is probably deceiving themselves.
That's why index funds are recommended for people who want market exposure without doing extra work. It should be as much work to pick a "money manager" as to pick an investment. Most people don't put in that kind of work either.
I really don't feel too sorry for the Madoff investors myself.
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