The world of money and economics can be pretty complex. I actually don’t think people have ever been more confused than they are right now. In my talks I joke that a recent survey about the Federal Reserve showed that:
– 25% of the people thought it was an Indian Reservation
– 25% of the people thought that it was a Wildlife Refuge
– 50% thought it was a Brand of Whiskey
But seriously, this lack of financial literacy comes at a very heavy cost. It limits each person’s upward potential while it causes companies to make questionable decisions. Additionally, studies show that most investors earn paltry returns on their investible dollars (this of course, is just the opposite of a true investment goal of higher returns with lower risks) while taking on high risk that they don’t fully understand.
In the last four years the stock market has had its greater rally since WWII, while most investors have remained on the sidelines. This condition o I have been teaching finance at Tulane University for the past 26 years and have spoken to more than 1000 groups in 47 states and several countries.
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