FYI: What defeats investors more than anything is psychology. Specifically, they can be undone by the emotional ups and downs that accompany the ups and downs of the market. For investors, it’s crucial that they understand how closely their emotions track the market, and how such emotions often lead them to do precisely the wrong thing.
Regards,
Ted
http://blogs.wsj.com/experts/2016/02/11/this-is-your-brain-on-investing/tab/print/
