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Smart Money, Dumb Idea: Bad Bets by Financial Pros 

By Ben Steverman - 2013-10-22T17:22:03Z

Photograph by Sally Gall/Gallery Stock

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Harold Evensky: A Wine Shop Hangover

In the 1970s, I got carried away with my hobby and opened a wine shop, way before the market was ready. As my wife, Deena Katz, says, it was the era of the three-drink lunch. Everyone wanted martinis and bourbon, not wine. I hung in there for a few years, but it was akin to the Titanic and the iceberg.

Harold Evensky is the president of Evensky & Katz Wealth Management.

Report: The Fight Over Financial Literacy