Why are most private investors destined to lose money?

Picking successful stocks is hard work. You have to be prepared to put the effort in. If you just rely on the mainstream media for your information, you're going to lose money, says Tom Bulford.

Last week the Daily Mail's stock market reporter, Geoff Foster, recently posed the following question: "Cancer cell company Angle soared 16.75p to 94p after chief executive Andrew Newland transferred 69,204 shares to his personal pension fund at 72.25p a share and he retains a 19.65% stake. What does that tell you?"

I'll field that one: it tells you almost nothing.

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Tom worked as a fund manager in the City of London and in Hong Kong for over 20 years. As a director with Schroder Investment Management International he was responsible for £2 billion of foreign clients' money, and launched what became Argentina's largest mutual fund. Now working from his home in Oxfordshire, Tom Bulford helps private investors with his premium tipping newsletter, Red Hot Biotech Alert.