Most investors don’t realize how much the structure of the investing businesses influences the recommendations of investment professionals. In fact, the influence is so pervasive and pernicious, that I’ve borrowed from the words of President Eisenhower to describe the business of investing as “The Investing-Industrial Complex.”

In a Forbes article entitled “The Vampire Squid Versus The Sun: Structural Factors And Behavioral Biases,” we take a look at the structural influences involved in one recommendation in particular. Here is a PDF of the infographic posted in that article.

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