Our customers, their customers

Who is the ideal customer for an auto company? Someone who believes every new feature is a must-have and is willing to sell off a perfectly functional car every two to three years to have the latest one, which is always more expensive than the previous one. What about the healthcare industry? Someone who is sick with chronic, incurable diseases but can still be kept alive for a long time with expensive drugs and treatments. This industry should be called the disease industry, but that's a separate story. How about the investment industry? A person who lacks knowledge about financial matters and is captivated by the idea of making quick money. Someone who regularly churns through investments with the misguided hope that the next hot stock, mutual fund, or exotic financial product will be the golden ticket. Someone who is terrified by the fear of missing out and is, therefore, easily swayed by high-pressure sales tactics and promises of high returns. Oh, and let's not forget the complete ignorance about the fees and their impact on the returns. Let's look at this from the opposite side. Who would be the worst customer in the investment industry? Some

This article was originally published on November 03, 2023.