Back in 2006 a retired couple unknown to me at the time, put...

Back in 2006 a retired couple unknown to me at the time, put $50,000 into a "set & forget" portfolio through a stockbroker.
So, what did they buy?
$12,500 into each of the following: Argo, Origin, Santos & Telstra.
Today, 2018, what's the portfolio worth? Well, $38,000 or a decrease of 24%!
Yes, dividends were received, but initial capital preservation was not.
They talk about the banking royal commission, well perhaps brokers & investor
apathy should be next.
Were there any "winners" from this quartet?
Yes, Argo returned 19% capital growth over 12 years or about 1.5%pa + dividends of around 5%pa. (the only "set & forget" proposition here)
Origin lost 27% in share value + dividends received.
Santos lost 60% in share value + dividends.
Telstra lost 32% in share value + dividends.

Had the initial $50k been put into WAM and according to their June17 annual report,
17.6%pa including capital gains & dividends would have been achieved for those
12 years.
I hold funds in various Listed Investment Companies and am happy to do so.
"Part time" investors should be full time investors in LICs for their financial health.