FYI: Here, from a decade ago, is a piece on why investors underperform their investments. As I look back on it, I think it suffers from the same logical flaw as most coverage of the so-called behavior gap, or the extent to which investments earn higher returns than the people who own them: Namely, in a bull market, a lump sum invested at the beginning and held to the end will tend to earn a higher return than an account that is funded steadily or sporadically over time.
Regards,
Ted
http://jasonzweig.com/how-to-lose-9-trillion-in-a-bull-market/
