This cannot be faked!

While these days everything can be faked, even the president of the United States, one thing cannot be faked for sure: the value of your own money! 

Here is the information I just got from my friend about how much the retail investor's portfolio is down this year on average. I guess this should not be too surprised by anyone with normal mind: when the fake president and his team only knows how to spend and control and knows nothing about how to earn, how could the society as a whole be prosperous!b If this trend continues without restraint, the US is definitely on the way to become the next Venezuela. So the pain you are feeling right now will be just like a mosquito's bite. Be ready and vote for the sake of your money in two weeks!!

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With the S&P 500 down 19% and the tech-heavy Nasdaq down 28% this year, I would have guessed that the average retail investor's portfolio would be down a lot as well, but I was shocked to learn just how much...

According to JPMorgan Chase (JPM), personal portfolios in the U.S. fell a horrifying 44% between early January and October 18, as you can see in this chart (from this Financial Times article):

I suspect the underperformance is due to the same reasons why the vast majority of mutual funds and hedge funds underperform the indexes: overweighting the most popular stocks and sectors at their peaks (i.e., chasing performance), selling winners while holding onto poorly performing stocks, trading costs, etc. Some good lessons here...