Value investors often point to the complementary roles of fear and greed in creating market distortions and investment opportunities, but they might want to add another emotion to the list: guilt. According to a study conducted by Braun Research for Merrill Edge, a third of the 'mass affluent' (what Merrill Edge calls people with between $50,000 and $250,000 in investable assets) felt guilty that they haven’t invested more money this year, outpacing the guilt over food and drink choices (18%) or not spending enough time with loved ones (17%). Only one person in four was proud of how they have handled their money in the last year.
More than half...
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