Comment: If you are so smart why are you trying to beat the market?

Economists can always prove us wrong but, in general, smart people tend to be better off.

This group, or HNWs in the modern politically correct age, have a lot of calls on their time, whether related to work or leisure. The best way to quantify that worth is to express it as an hourly rate. Bearing in mind the minimum wage is £5.80 an hour, a wealthy individual should be valuing his time at a large multiple of that. If this person’s time is so valuable why would he want to waste it doing something that adds no value, and in fact probably detracts value, from his net worth; like managing his own money? Consider a wealthy individual with an equity portfolio of £100,000 he ma...