"JAMES J. CHOI is a finance professor at Yale University. But in a recent paper titled
“Popular Personal Financial Advice versus the Professors,” Choi played
the role of (somewhat) neutral arbiter. The question he sought to
answer: Do popular—that is, non-academic—personal finance books offer
advice consistent with the academic literature? And if not, is that a
problem?"
Adam M. Grossman distills the essence of Choi's study in an easily digestible post on the Humble Dollar https://humbledollar.com website.
"To conduct his study, Choi looked at 50 personal finance titles including The Millionaire Next Door, Rich Dad Poor Dad, A Random Walk Down Wall Street and I Will Teach You to Be Rich. As you might guess, Choi found a sizable disconnect between the academic literature and the advice offered by popular titles."
Read Grossman's fascinating summary here: https://humbledollar.com/2022/09/book-smart/?utm_source=mailpoet&utm_medium=email&utm_campaign=another-ses-test_7
Bottom line: the only area in which the academic researchers and the popular authors agreed was on was that index funds are superior to actively managed funds.
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