Ben Carlson Says Too Many Investment Choices Hurt Your Returns. Here's How to Say No

"“There's never been a better time to be an individual investor,” Carlson said, pointing to zero-dollar commissions, fractional shares, ETFs that unlock strategies once reserved for institutions, and accounts you can open from a phone in minutes. The catch is what those frictionless rails encourage. “By taking down those barriers to entry, it increases the temptation to make a change,” he warned."

"“By taking down those barriers to entry, it increases the temptation to make a change,” he warned. Add in the constant drip of social media takes, newsletters, podcast hot takes, and the analyst price targets, and the average investor is facing a tidal wave of inputs. “Drinking from the fire hose is not a long-term winning strategy,” Carlson said."

"Carlson's prescription is less about willpower and more about pre-commitment. Investors, he argued, must “learn about how to limit yourself and how to put guidelines on your actions and how to say no to certain things.” The goal is to reach a point where any new product, fund, or tip becomes “an automatic yes or an automatic no” against a written plan, rather than a fresh debate every time markets twitch."

"Even with the CBOE Volatility Index sitting at 17.26 as of May 14, 2026, well inside the normal 15-20 band, the VIX spiked to 31.05 on March 27, 2026 just weeks earlier. Those whiplash moments are exactly when undisciplined investors abandon plans and reach for whatever is being marketed hardest."

Zero-dollar commissions, fractional shares, and phone-openable accounts make investing easier for individuals. Those frictionless tools also lower barriers to frequent changes, increasing temptation to act on every new idea. Social media takes, newsletters, podcasts, and analyst price targets create a constant stream of information that can overwhelm long-term decision making. A long-term approach requires pre-commitment rather than willpower, including written guidelines that automatically approve or reject new products, funds, or tips. Market whiplash moments can trigger plan abandonment and impulsive reactions. Venture capital ETFs and private-asset offerings raise additional questions for retail investors seeking exposure without losing discipline.

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