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DIY investor: a game of optimism

One’s default state of mind as an investor is optimism, not realism.

By Andy Davis   February 2015

 

A few weeks ago I spent a day talking to a group of insurance underwriters who operate in the Lloyd’s market. I’d never met anyone from this world before and, in terms of different ways to think about the challenge of managing our personal financial lives, these were among the most thought-provoking conversations I had had for many months.

Most people mistrust the financial markets and would rather save what they can in a bank. The minority who are prepared to invest their money need to believe, first, that investing is an inherently better way to provide for their…

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