"There's a difference that people need to make between trying to get smarter at investing and trying to be less stupid at investing."
That's what Motley Fool columnist Morgan Housel told host Matt Trogdon on Monday. Housel covered that theme extensively in his most recent columns: "How to Get Less Stupid at Investing" and "What You Need to Know Before Reading Financial News."
"If you're getting smarter, that means you're starting at average and going up," Housel said. "Getting less stupid means you're below average and you need help getting back to average."
Housel underscored the need for investors to reevaluate where they are on the spectrum of investing skill, and to change their behaviors accordingly.
"Most investors we know, statistically, are below average. They're earning a return below of what they could have achieved in a basic index fund. They need help getting less stupid before they need help getting smart."