A new client of yours is age 25, with limited investing experience. You have guided him when making his initial investments based on his investment objectives, risk tolerance, financial resources and financial needs. He has just returned from a long vacation, where he tells you that while on the airplanes, he has read 2 investing books and now wants to manage his account without your input. This is an example of:

Overconfidence

Explanation:

Becoming an Investment advisor is no easy feat. In most cases one would have to go through rigorous training in college after which they will probably have to get additional certification which may require more training.

All this is done to ensure that the client's money is as safe as possible in the hands of the investment advisor while they attempt to grow it. To think that after reading just 2 books on investing, one can become so good that they can manage their own investment is simply overconfidence.

Even if they were blessed with an IQ higher than Einstein, 2 books is not enough to get the requisite knowledge required. If being an investment advisor was so easy, more people would be allowed to do it.

hi noah!

the first time you break a rule, you get a warning.

if you continue to break rules you get kicked out for a certain amount of time.

so, to answer your question 1.

hope this buddy!

- courtney

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