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INVESTING IS ONE OF THE FEW AREAS IN LIFE WHERE EVEN VERY SMART PEOPLE LET HOPE TRIUMPH OVER EXPERIENCE According to Wall Street Journal investing colum­nist Spencer Jakab, most of us have no idea how much money we're leaving on the table - or that the average saver doesn't come anywhere close to earning the "average" returns touted in those glossy brochures. We're handicapped not only by psychological biases and a fear of missing out, but by an industry with multimillion-dollar marketing budgets and an eye on its own bottom line, not yours. Unless you're very handy, you probably don't know how to fix your own car or give a family member a decent haircut. But most Americans are expected to be part-time fund managers. With a steady, livable pension check becoming a rarity, we've been entrusted with our own finances and, for the most part, failed miserably.



About the Author

Spencer Jakab

Spencer Jakab is an award-winning investing columnist. He writes for and edits the Heard on the Street column at The Wall Street Journal and has previously written for The Financial Times and Dow Jones Newswires. He has also contributed several pieces to Barron's Magazine.

Spencer began his career in finance and was a top-rated stock analyst covering emerging markets for Credit Suisse. He has an M.A. from Columbia University and a B.A. from Brandeis University. Spencer lives in New Jersey with his wife and three sons.



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