of time, time available to concentrate on reading and deciding what stocks, bonds and/or MF's.
when you say delegate, it's not quite that simple, yes the money is "given" for management but if the results are bad-even when the market has taken a tumble- they blame you
It is not such a simple thing as you post-the phenomena is akin to take my money and make more-if I lose it your fault and if I win you can keep the account. There is little to no orrespdonding thought to the market conditions etc- that is the brokers job.
That's why the market tumbles besides the institutional programmed trading there are the sellers who do not want to responsible for loss in an account.
There is a whole psycology to money and it has nothing to do with what people are saying as you have discovered- and nothing to do with learning from mistakes