"The recipe for successful investing sounds pretty simple: have
reasonably good timing over the long haul and avoid big mistakes.
...The problem is that many investors seem to think they're better
than that and can beat the stock market. Yet research consistently
shows that it's a fool's game.
...[The Problem:] Funds posted an average annualized return of 7.1
percent over the past 10 years, through the end of 2012, Morningstar
found. But the returns that investors actually realized were a full
percentage point lower: 6.1 percent.
...The better you know yourself — what you're good at, and when you
get emotional — the better you're likely to do as an investor...