If we recognize the mainculprit to falling prey to hype – recency – then the solution isquite simple. (Photo: Shutterstock)
We've all been there. A super confident employee, one thatwatches CNBC diligently, reads the Wall Street Journal daily, andmaintains an active brokerage account, insists the plan sponsor include this “must have” mutualfund in the company 401(k) plan.
Of course, the plan sponsor usually turns to the plan adviser for, well, “advice.” The adviser,in turn, doesn't want to tell the plan sponsor “no” (because theclient is always right).
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