DIY Financial Advisor

Preface xi

Acknowledgments xiii

Part One Why You Can Beat the Experts 1

Chapter 1 Are Experts Trying Too Hard? 3

Why Do We Rely on Experts? 6

What Are the Experts’ Incentives? 9

Are Experts Worthless? 11

The Expert’s Hypothesis 13

Summary 14

Notes 15

Chapter 2 Simple Models Typically Beat the Experts 17