Quote:
Originally Posted by PepsiFree
. Within five years at current progress people with be laughing at people who still use financial advisors. Your only hope is government intervention.
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OK. So I'm not a financial advisor and don't use one. But I don't agree that this is true and not because AI couldn't manage a portfolio better.
The old-school algorithm of "buy one equity and one bond ETF and rebalance yearly" beats the vast majority of investors including both DIY and advised. Maybe AI can do better than that, but that isn't looking at the right problem.
Because that's not the value of an advisor. The value of an advisor is talking you out of selling at the bottom in 2009/2020 because the world is going to hell. If you added money to the market in late March 2020 then you don't need an advisor, imho. Everyone else does.