The customer is usually wrong

I have searched in vain among the many 'How to Invest' books for any that discuss how to be a good client. My experiences during quarter of a century on the sell-side of the securities industry show this makes a great difference to being a good investor, because investors are by definition buyers of financial services. Investment is a cyclical business. Understanding how best to exploit cyclicality and managing the associated risk is probably the most important secret of investment success. This has relevant consequences both for my career and my clients' financial health. As far as my ...