WEEKEND READ: Why experts fail

The financial crisis has revealed that expertise is sadly lacking throughout the financial services industry. But, perhaps the lack of expertise in investing is due to the nature of the domain.

Warren Buffett is lauded by many because few can match his investment performance. Indeed, the majority of professional fund managers cannot consistently beat the market by enough to cover their fees.

The global financial crisis of the last year or so tends to confirm that expertise is sadly lacking throughout the finance and investment industry.

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