The recipe for successful investing sounds simple: have reasonably good timing over the long haul and avoid big mistakes. That’s helps professionals build a worthy track record. For average investors, it’s advisable to set the bar lower. Construct a balanced portfolio of low-cost mutual funds, make regular contributions; and stick with it until it’s time to retire.
The problem is that many investors think they’re better than that and can beat the stock market. Yet research shows that it’s a fool’s game.