My wife recently commented to me about the Charles Schwab ad campaign. You know, those ads with the “Talk to Chuck” slogan. They encourage you to “take control of your destiny,” and “make your own decisions.”
They are well done. They leave you with a feeling of inspired empowerment. The feeling is a fallacy, but the ads generate it nonetheless – so hat is off to whatever advertisement firm came up with those.
Throwing darts at stocks in a Schwab account is better than having a broker. A broker will charge commissions and will, in some cases, be purposefully working counterproductively to your goals.
Being on your own is a slight improvement, but you are still going to be fodder for the investment sharks that have unimaginably more experience and resources than you do.
As Henry Blodget says, there is a way you don’t have to worry about any of this – index funds (or other passive funds).