The financial media tells you certain things…and many people in the finance business actually believe this. Stop believing this nonsense, it does not matter…in your wealth journey…

1. We the pundits can know everyday why the market has gone up or down: Absolute nonsense. The US gurus are still trying to find out why the market crashed in 1929, 1987, 2008,…and why some experts predicted a market crash in 2012, 2014, 2015,…..!! Same is true for our markets. None of them predicted a 13% rise in April-May 2016.
2. If you pay more management fee, the fund will deliver better results post tax.
3. When volumes go down in the market, it is bad for the market: amazingly stupid stupid theory from an investor’s view.
4. Most analysts may go wrong once in a while: The truth is most of them get it right once in a while.
5. A successful analyst knows why he went wrong. Nonsense. Sometimes they get it right by luck. Like an analyst who bought Eicher because it had good quality trucks. It actually made money in bikes.
6. They back test theories for 2 decades and are willing to give up on 3 months of non performance.
7. Believing back testing works. Checking the evidence, and tweaking the software 🙂
8. Worrying if more people save money and invest less. Amazingly stupid headlines is what you will see.
9. People in BFSI who are wrong ninety nine times out of one hundred are still referred to as ‘gurus’ or experts’ and heralded as Gods for being right once in a while.
10. Big large investors who are called ‘accredited’ are smart. Bunkum. OPM – other people’s money is an aphrodisiac.
11. Black swans can be regularly spotted on a quarterly basis and we can be well prepared for it.
12. Good financial advice has to be complicated, contain options, do quarterly reviews and annual switches.

if your Independent (unverified) Financial (assuming he is qualified) Advisor (chuckle) tells you the above, it is time you sought a second opinion. Today.