by montyloree » Thu Aug 25, 2005 12:00:00 AM
Abdicating Personal Financial Responsibility
Monty, I found your July 25th comment on Stock Market Software most interesting: "Stock investing is a learned skill". It has been my experience that when it comes to two of the most important aspects of anybody's life -- -- health & money -- -- that the broad majority of people want to delegate responsibility to experts and, in many cases, do their best to completely abdicate from any sense of personal responsibility.
Everyone knows "nobody cares more about my money than I do" but why isn't everybody out developing personal financial management skills? Perhaps there is a reason why some people reach personal success and others don't. Psychologists may be able to tell us why but the simple fact is we can choose to be successful -- -- or not.
Personally I am not satisfied to be a lemming with a diversified portfolio of underperforming mutual funds. I want to educate myself to success in profitably trading individual stocks. I can just as easily put my free time into investment education as I can into any other hobby. I have several hobbies I enjoy but gleaming profits from the stock market has always been the most fun I've ever had. Success in day trading is not something the average person can learn all on his or her own, but, it is something the average person can learn well with proper guidance and directed education. If trading successfully is so much fun why isn't everybody doing it? Just why does success come to only the few?