The retail financial advice business and the salesmen that masquerade as “financial advisors” want to convince you that they can deliver superior returns without taking additional risk to do so. Research tells us otherwise. As Milton Friedman famously stated, “there is no free lunch." But, the vast majority of individual investors never hear this message. Or, if they do, they can’t sort the truth from the hype. And, like your mother exhorting you to eat vegetables when you’d rather eat chocolate or pizza, reality may not sound as appealing as the sales pitch. It does, however, have a much greater probability of success.