Back in 2008 my retirement account was being managed by a friend that had recently become a “financial advisor” at Edward Jones. I was living outside the US for a few years and was completely unaware how bad the economy was. When I got back and checked in with him and discovered he had made horrible decisions and lost 90% of my money. In his brilliance he decided to sell all of the shares at the absolute bottom of the market and buy bonds with the leftovers. I essentially lost 10 years of my retirement savings because of my stupidity in trusting someone else with my money.