In this interview, Dan warns investors that the â€œinsidersâ€ in the industry definitely slant the tables from time to time and that picking individual stocks as a retail investor may just be a foolsâ€™ game.
This is not to say that the individual investor cannot make money picking individual stocks, but it is much more difficult when you are always â€œlate to the partyâ€! That being said, Reingold recommends not pick individual stocks because most of the material information flows very unevenly, leaving the average Joe out in the cold.
Free Money Finance hit the nail directly on the head when he mentions how flabbergasted he is that this advice is coming from someone who actually picked stocks for a living. So much for the ethical nature of the free market!
Hereâ€™s to a profitable day!