Rick Ferri has an interesting perspective with his article (link).
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I had several other sobering conversations with squadron buddies about how they were investing their retirement money. All in all, it’s a mess. That sixth sense they had for staying alive while flying didn’t transcend well into the investment arena. I cringed with every story they told. These guys lost money day trading, in stock options, commodities, hedge funds — you name it. One couple was even swindled by Bernard Madoff himself.
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Often times accomplished men think that investing will be easy for them because they are top notch in another field. The above is another anecdote in the quilt of evidence. Ferri is an advocate of the Vanguard/Bogle philosophy.
As for the markets, I am mildly surprised with the recent market action. My most recent option sales are deep in the red. For now, I am going to sit, watch, and wait.
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