Mark Matson

We have Bitcoin, which is toxic because there's no assets actually backing it up.

We have commodities you can trade.

You can literally take out your cell phone right next to your DraftKings and you can get on Robinhood and you can trade stocks all day long.

So this idea of ending speculation, ending gambling and prudently investing for your life goals,

That got completely hijacked by technology and the media.

And I think it's worse now than it was worse.

I think what hasn't changed is it's no easier to beat the market than it was 30 years ago.

85% of all active managers fail to deliver a market rate of return.

Of those 15% that get lucky over any 10-year period of time, there's zero correlation about their ability to continue that into the future.

So markets have stayed extremely efficient.

It's extremely hard to beat them.

And it's very, very dangerous for most investors to try.

And that hasn't changed.

Well, I know specifically answer this question because every year we manage $12.2 billion for investors all over the United States.

And every day we analyze portfolios.

So I know exactly what they have in their portfolios.

Most investors have what I call a Frankenstein portfolio.

They have maybe six or seven of the big magnificent eight in there.

They've got some growth mutual funds.

They might have some commodities.