The Winner's Game

Abstract

While lots of attention gets paid to avoiding the loser's game of high-turnover stock-picking and market timing, all too many investors—and all too many investment professionals—spend all too little time on the winner's game of developing and adhering to the long-term investment policies most likely to achieve the real and specific needs of each investor. Sound investment counseling, made widely available, could save most investors from unnecessary disappointment and could provide professional success and personal satisfaction to investment managers.