The missing billionaires : a guide to better financial decisions

"Moving from coin flipping to real world investing, there's a large body of evidence suggesting that investors also do a poor job when it comes to sizing major financial decisions. One example is that in aggregate, individual investors severely under-perform market returns. Some of this underperformance comes from paying high fees, but much also arises from having too much or too little at risk, usually at just the wrong times.6 As Victor suggested in his 2013 TEDx talk, "Where Are All The Billionaires And Why Should We Care?" the rapid dissipation of dynastic wealth in the US over the past 120 years comes in large part from poor investment sizing decisions"--