Morningstar 2013

One of the speakers at this year’s Morningstar Investment Conference was Carl Richards, a financial illustrator and weekly contributor to the New York Times.  During his presentation, I was reminded that one of the most important jobs we have as financial planners is to help folks break the cycle that he illustrates below:

 


(source: www.behaviorgap.com)

Or, to quote Warren Buffett, “Success in investing doesn't correlate with I.Q. once you're above the level of 25. Once you have ordinary intelligence, what you need is the temperament to control the urges that get other people into trouble in investing.”

Here is a video recap of my time at the conference:

Aaron Pettersen CFA, CFP®