J.S. Kim at The Zen of Investing has written a terrific article about the role of self-reliance in investment returns.  The following quote is particularly compelling :

 ”If we consider the fact that a the hours of a 16 week college class that met four days a week for 1.5 hours a class, or 96 hours of learning, is probably sufficient to set one on the path to significantly greater financial returns, it’s just plain silly that the overwhelming number of people make excuses that they just don’t have this kind of time.”

The entire retail investing industry is set up in such a way to convince the investor that investing is complicated and should be left to the professionals.  The truth is, it takes relatively little time to learn the ropes, and cut through the salesmanship and BS to create a winning, self-directed investment strategy.

The key is not only self-reliance, but personal responsibility.  If an investor is not willing to “own their results” then they can hand their money over to a professional, and in that case, if there are losses, at least there is a scapegoat.  If there are losses in a self-directed account, the only person to blame is the man in the mirror.   Own your strategy, and own your results, because in the end, no one cares more about your money than you do.