Insights of a noob:

10 things I've learned from 18 months in the financial services industry.

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1/ The financial industry is set up to extract value from you - the key is to learn how to extract value from it.

2/ An understanding of compounding is essential - it can be your best friend, or your worst enemy.

Negative compounding is a thing, it occurs from the buildup of fees and taxes over time (there is a link to an article which explains this in more detail in point 9).

3/ Behaviour is everything - you are an emotional creature not a robot.

@MavenAdviser summed it up perfectly in a recent podcast, 'financial success takes place between your ears, not on a computer screen'.

4/ Behaviour is everything - familiarise yourself with @behaviourgap.

Over the long term markets do not lose money, however investors do.

A study found that over a 20 year period ‘the average investment return was 11.81%. The average investor return was 4.48%.’