After years of investing/gambling in the market, I finally gave in to having my cousin manage my money. Although his fees are high, I feel I am guarded from a large downside risk of a market. I am still on the fence watching the market soar with my mediocre returns this year.
I have to admit, this is tough to read. I'm glad that you clarified the difference between your actual gambling in the market, and the way the word is used by most. For example, I watch family members struggle, and work hard well into their 60s, with no real strategy, as they tell me that they have their money in the bank since they won't "gamble in the market". I hope you take the time to stop by a friend of this forum, and read what he has to say about the market and investing. Go to
http://jlcollinsnh.com and read his "stock series".
To illustrate the difference between his thinking and staying with a "pro" and all the high fees and poor performance they often bring to the table, I can offer a stunning personal experience. I was pushed into using a "great guy" from one of the mega-banks. He came highly recommended by a friend, who is a estate lawyer and does a lot of client business with him. After far too much churning of my account, high fees and little to show for it, I pulled 80% of my funds and went with Vanguard. Two years later I was up 51% with Vanguard and 9% with my advisor. My advisor got 1/3rd of the pathetic gain as a fee for his dismal performance. Vanguard's fees were a tiny fraction of his. During that time period I threw away $2K a month on a very well regulated and vetted "investment professional", who, like most of them, was unable to get CLOSE to matching the index on a bull market as he did stupid shit like leaving cash on the sidelines and buy gold mining stock, etc.....
Not a personal attack on your cousin in the least, but you can move to Vanguard, select whatever risk you are comfortable with, and forget about it. You will save thousands yearly in fees, be invested in a rock solid company that was built for the "little guy" and end up far wealthier in the end. Good luck.