I was a #1-ranked stock analyst (computer software and services industry) in the 1980s. I took a portion of my parents' money and doubled it in 18 months, by splitting it among 5 stocks that went to 4X, 3X, 3X, 0X and 0X. Then I left Wall Street, told them I no longer was in a position to do such stock picking, and they should put their money into Vanguard index funds.

They were not pleased, and felt I let them down by not being more active in investing for them.