Recently SEI Investments surveyed 41 “wealthy individuals” to determine what shapes their investment philosophy. The results of this unscientific study are a bit troubling:

  • 68% said they let emotions get in the way of making the best choices
  • 17% said instinct guides them most
  • 22% said education guided them
  • 20% said they relied upon their peers
  • 12% said they let family influence their decisions

In the most alarming statistic 83% said past experience (or “rearview mirror investing”) was the most important factor.

Is it any wonder so many investors are disillusioned with their results?