They want to win. They want to be No. 1. But this passion to outperform often serves us poorly.
Newspapers detail the latest, hottest initial public stock offerings.
Friends and colleagues boast about their big winners. That explains the attraction of lottery tickets, initial public stock offerings and day trading. But the reality is, most folks don't get rich buying IPOs, making big market bets, trading funds and hiring hot-shot investment advisers. In truth, investors are unlikely to beat the stock market by even a modest amount. As the market rises, it creates a certain amount of wealth, which is then divvied up.