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The Diehard Philosophy is not easy.
Taylor Larimore 04-15-2004, 11:54 AM | Post #1642605 | 
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Hi Sarah:
In general, here is the Diehard philosophy:

1. Develop a diversified plan.
2. Use low-cost, low-turnover funds
3. Consider tax-efficiency
4. Keep investing simple
5. Stay the course

This formula for investment success does not come easily. It requires understanding, and self-confidence.

Each year the very profitable investment industry spends billions telling us the opposite of the Diehard Philosophy: "Buy our high-priced investments, tools, advice, publications, etc., and you are sure to beat the market."

I am confident that most of us on this forum, including myself, once believed this lie. It was only after becoming informed, by reading, experience, educational classes, and through other sources of learning, that we understand the wisdom of Jack Bogle, Burton Malkiel, and other great thinkers and communicators.

If your friend will not read a 'good' book on investing (one should do), he should seek a qualified fee-only adviser for guidence. In my opinion, there is probably nothing else you can do.

Best wishes.
Taylor

Originally posted in thread: 34357
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