“I know one guy, he’s extremely smart and a very capable investor. I asked him, ‘What returns do you tell your institutional clients you will earn for them?’ He said, ‘20%.’ I couldn’t believe it, because he knows that’s impossible. But he said, ‘Charlie, if I gave them a lower number, they wouldn’t give me any money to invest!’ ”
If you’ve thought this, ask, “would you want to be the other guy—the investor or the funding agency expecting something and never getting it?” Bad behavior. Unreliable.
