Confusion causes indecision. And indecision causes poor investment results. A recent Dalbar study confirmed what we have known for years: The actual investment return achieved by most investors is abysmal. Even during one of the most profitable periods for the stocks in recent U.S. history, the average equity investor's performance trailed not only that of the S&P 500 index, but also that of a One Year Treasury Bill. Without a disciplined investment approach, investors are doomed to fail before they even begin.