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"When
I was dating her," a friend said to me recently, "she
had this problem with her car. I kept telling her it was the
head gasket, and she kept saying the mechanic thought it was
something else. She took it back to the mechanic four times
before he figured out that it was, in fact, the head gasket.
But it was like I couldn't possibly know what it was because I
wasn't the mechanic." "Right," I said, "it's
this idea of perceived authority. That you can't know the
answer unless you're the designated expert." "Except
that most things aren't that complicated," he said, "and,
if you're motivated, you can figure this stuff out for
yourself."
As I
am recounting this story to Netscape's Larry Jordan, he laughs
and says the same is true for personal finance: "Basically,
there are two types of investors. Those
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who like
to have other people manage their money, and those who look
around and think, I can research this. Why should I pay
somebody else a commission when I can do this myself?"
Larry
Jordan is one of those people who prefers to manage his own
finances, which is partly what led him to create a web site
where he and others like him could keep a close eye on their
investments and be able to respond quickly to changes in the
market.
Read
the full story...
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