I have had several conversations with someone about investing and they have a mindset that as an individual investor you are COMPETING against Wall Street and can never win. They have this mentality that Wall Street companies are the sharks and that if you invest, you will not do well because they will make sure you lose.
I don't even know how to argue against it because I don't understand this mindset. I've tried to explain that, unlike Wall Street companies, you are not bound to specific investment criteria and quarterly/annual goals as an individual investor. They seemed to grasp this but then several weeks later brought up this idea again that you can't compete against Wall Street.
Can someone explain this mentality to me?
Although there have been situations where the system can appear rigged. Also, where hedge fund managers intentionally say something that is the opposite of what they believe or doing. Overall, I don't think you're competing against Wall Street, again for the reasons previously mentioned.
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