How Smart is the Average Investor?
How smart is the average investor? Inquiring minds at the SEC want to know. One of the mandates of the Dodd-Frank bill is to improve the timing, content, and format of disclosures to investors regarding financial intermediaries, investment products, and investment services. While that all seems important and even necessary, one shouldn't lose sight of the fact that there needs to be a focus on reminding investors that investing is a risk, and all the best practices in the world aren't going to change that.
We live in a finger-pointing society, and Dodd-Frank follows in that grand tradition, not only hoping to educate investors, but perhaps setting up opportunities to give investors someone to blame when their investments go sour. I'm keeping fingers crossed that we're not headed in this direction.
Prior to this role, Caleb served as the editor of Going Concern since its founding in 2009. During his time as editor, Going Concern quickly became one of the most popular and talked about websites in the accounting profession. He has been named one of Accounting Today's Top 100 Most Influential People every year since 2011 and has been published on numerous websites, including Above the Law, Deadspin, Denver Business Journal, and the Huffington Post.
Caleb is an adjunct professor of journalism the Community College of Denver in Denver, Colorado, where he teaches Internet Media.
Prior to falling bass ackwards into the media business, Caleb spent over five years working in public accounting, with more than three of those years at KPMG. Caleb received a Master of Science in Accounting from Colorado State University and a Bachelor of Science in Business Administration from the University of Nebraska at Kearney.
Caleb spends a lot of time on a bicycle and reading, but never at the same time.