A new paper gives strong indication that on average, individual investors are really poor investors. I mean, really bad.

Full disclosure: I work for a firm that provides financial advice. I wouldn’t do it if I didn’t think we were helping our clients, but I still cannot pretend to be an impartial party. But, I hope this also makes my opinion a little more informed. A recent paper on how we use expert financial advice has been grabbing a bit of attention lately – Dan Ariely called the results “troublesome, perhaps even frightening” .