Subject: Re: OT-top 1% Net Worth
Serious question for Ed Norton’s pal: If your financial advisor has so seriously underperformed the index over twenty years why have you retained him?

3 reasons:

1) He did really well for us in 1999/2000 when I was able to move a large part of my net worth out of tech into the things that didn't crash in early 2000.
2) I knew he was looking for more security than SP500
3) I didn't keep track of how he was doing and only checked earlier this year after not paying much attention for more than 20 years.

So I knew he was underperforming the market but I thought he was getting me some safety doing this. But as it turned out, the SP500 hit it out of the park for these decades, so it was the wrong decades to think the SP500 was overpriced, at least in retrospect.

That's life though.

R:)