Here’s some reinforcement from The Big Picture about why I have trouble putting money in the stock market:
Recall what Charles Ellis said when he was overseeing the $15-billion endowment fund at Yale University:
Watch a pro football game, and it’s obvious the guys on the field are far faster, stronger and more willing to bear and inflict pain than you are. Surely you would say, ‘I don’t want to play against those guys!’
Well, 90% of stock market volume is done by institutions, and half of that is done by the world’s 50 largest investment firms, deeply committed, vastly well prepared – the smartest sons of bitches in the world working their tails off all day long. You know what? I don’t want to play against those guys either.
Pete Ware 