In theory, Wall Street exists to help investors make money.

The financial media should provide clear and accurate information, hopefully with some level of insight.

And money managers should try and help their clients build wealth.

Unfortunately, we know that neither of these is true.

The truth is that the entire Wall Street machine is built to do one thing — make THEM rich.

The media gets paid for traffic. They will publish whatever gets you to click, regardless of whether it helps you make money.

And the vast majority of professional investors simply want your money so they can collect fees, whether they succeed or not.

Both of them want to convince you that you need them if you want a chance at building your wealth.

They are dead wrong.

What’s worse, they’ll push myths that they say are meant to help you financially, but really only make them richer.

Today I want to debunk three of these Wall Street myths that are costing you money.

Myth #1: Past Performance Is Not Indicative of Future Results

This is the most common disclaimer out there by money managers. The idea is that you can’t look to the past and expect it to continue in the future.

At face value, it makes a lot of sense. The world changes and counting on what happened in the past can be dangerous.

It is also misleading. The fact is that past results are the best indicator of future results. Put it this way…

Which NFL team is more likely to win its remaining few games, the one that is undefeated halfway through the season or the one that hasn’t won a game?

Companies are like sports teams. They have their talent (business model and market positioning), coaches (management) and are trying to win (grow profits).

Teams that have a long track record of winning are likely to continue winning. Similarly, stocks that have historically done well are likely to keep doing well.

So start by looking for stocks that are already up, not down.

Remember that every stock that ever went up 1,000% went up 100%, 200% and 500% first.

Myth #2: You Can’t Time the Market

This is another popular proverb that has some element of truth.

For undisciplined investors (the vast majority), timing the market may be folly. They buy when they should sell and sell when they should buy.

But the idea that you can’t make money by timing the market or individual stocks is just plain wrong.

The reality is that markets and stocks trend. They trend up, they trend down, and they trend sideways.

For extended periods of time, flows of buying and selling push stocks in a consistent direction.

There are ranges within those trends, and stocks in these trends trade at the high and low ends of these ranges.

At the high end of the range, it makes sense to sell some. At the low end of the range, it makes sense to buy some.

Partner this with the right process, and you can generate great returns timing the market.

Without a good plan, however, timing the market may be impossible. But who goes out and invests their money without a plan?

Myth #3: You Can’t Beat the Market

This one is attached to the myth about timing the market.

Going back to what I said earlier, this is true for undisciplined investors without a real plan. Unfortunately, that is most investors.

But if you have a great plan and the discipline to stick to it (neither of which is easy), you absolutely can and will beat the markets over time.

The best step you can take to get to this point is to find great insight — and that is why we are here.

To share our experience and show you how (with some work) you can create a real money-making process.

Don’t believe the Wall Street myths. Do the work and change your financial future!