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How to Avoid the 58% Mistake

What separates outstanding financial advisors from the mediocre? In my experience, one answer is the ability to learn from past mistakes and make adjustments. For ...

By Staff Writer | Updated on March 01, 2004

What separates outstanding financial advisors from the mediocre? In my experience, one answer is the ability to learn from past mistakes and make adjustments. For many advisors, it is now possible to look back at the past decade and see a mistake that was costly to many clients.

The mistake was to buy into a story created by the mutual fund industry that went like this: “Most investors with long-term objectives should not try to time the markets. They should buy and hold an asset allocation program implemented with actively managed mutual funds that are automatically rebalanced periodically.”

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