The better way to look at it, is to forget ALL of these definitions which are silly legal-ese, and just do what makes sense to you. YOU know if you've put in the time to understand something, and YOU know when you're trying to make money too fast and just trusting without verification. So YOU are ALWAYS to blame or credit when deploying YOUR money.
Stop suing everyone for your own mistakes in life, and the world becomes a better more efficient place. Trust those who earn your trust, it's as simple as that. No definitions required, just meeting people and getting a feel for whether they are full of shit or not.
Thank you for your comment, but I don't think i can agree with you, and I will tell you why:
When we talk about trust we talk about a knowledge or a faith, a belief that someone's actions will be accordance with our wishes. And you are right, when it comes to financial intermediaries it is often about TRUST based on faith and believes, because their clients are usually not educated enough to be able to verify if the intermediary not only is qualified enough, but also honest with them. The clients are in most cases not capable of veryfing that, because they are not only educated enough (and yes, in my opinion, they should be and), but also often do not have enough time to make their research in order to verify the given informations.
I believe that the greatest enemy of knowledge is not ignorance, but the illusion of knowledge, and due to that I believe that people who are not educated enough and not qualified enough (just like many of youtubers) SHOULD NOT try to form opinion of others. You are probably fully aware of its implications. In my opinion, because of that, the world becomes bigger and bigger mess, instead of better and better place.
We were not talking about my own mistakes and I can't see how you deduced that.
By the way, did you find the article interesting overall?
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