- “The 2014 Dalbar report specifically stated that: “Attempts to correct irrational behavior through education have proved to be futile. The belief that investors will make prudent decisions after education and disclosure has been totally discredited.” In plain English, Dalbar is simply stating the obvious heuristic behavior of herding: consumers invest when the market is high and sell when it is low.” Investor Education Is ‘Futile,’ ‘Totally Discredited’: Dalbar, Gil Weinreich