“It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so.”
– Mark Twain
Peter Lynch was the legendary portfolio manager of the Fidelity Magellan fund, and he is widely regarded as one of the most successful investors of our time. He once said that you can’t get a high school diploma in America today without knowing what a cosine is; however, millions of Americans graduate from high school every year without knowing the difference between a stock and a bond. The United States is the wealthiest capitalist nation in the history of the world, yet we don’t teach our children basic financial literacy.