Investors face a myriad of challenges today, including record low interest rates, stagnant growth in developed economies which are increasingly burdened by entitlement promises and growing debts, instability in the Middle East, and a level of uncertainty over tax and regulatory policy which is virtually unparalleled in history. But as daunting as these challenges are, they are not even close to their greatest threat. The most debilitating investment challenges lie within, and are compounded by the very financial services industry they seek for guidance, an industry that is all too eager to capitalize on those weaknesses.
