Why do so many intelligent people act so irrationally with their investments? It turns out that we may be programmed to do so.
Given a self-styled stock market "psychic"'s track record, shouldn't the SEC place some constraints on members of the securities industry who purport to be able to predict the future?
Here's the Armageddon scenario: First Greece defaults, then Portugal, then Spain. Is the viability of the euro currency an issue? Rather than relying on predictions, there are some practical steps you can take to protect your portfolio.
I know there are exceptions, but my basic view is that the securities and insurance industries are in the business of separating you from your money. Of course, it takes two to tango, but you don't have to help them.