I do not remember the last day where I didn’t hear at least one person call for a major stock market correction. Sometimes, it comes from normal, every day folks….and other times, it comes from so called “experts.”
Wall Street Steward Blog
My job is to be a good steward of my clients’ assets. Whether that means encouraging them to make a decision or exhorting them NOT to make a decision, it is all part of the gig.
I promise I do not make this stuff up. This is a conversation that occurred earlier this week. No names, of course. Not only are the actual words included, but my thoughts are thrown in for a little entertainment.
Inside the investment industry, a type of civil war is raging. Advisors vs Brokers. Fiduciary vs Suitability. I think this whole argument is ridiculous.
You’ve undoubtedly heard the phrase “opinions are like @$$**%&$, everybody has one.” This could not be truer than in the financial planning profession.
It was just another Tuesday, until my assistant called me and said “Mrs. Rice is on the phone, and she said she needs you to help them with an issue. It sounds bad. Normally, they let me assist them, but this time she only wants to talk to you.”
The next time you are in public, and the subject of investing rears its ugly head, listen closely. Inevitably, there will be an obnoxious male bragging about buying a stock at $1 per share while watching it rise meteorically to $10.
We are now a full 4 weeks into 2012 – how are those resolutions holding up? I have never understood why we need a new calendar year to decide to commit to something that we know we should have done years ago.
The S&P 500 dropped from 1,287 on August 1 to 1,119 on August 8. In just 5 trading days, investors suffered a loss of over 13%. Since 1990, this is only the fourth time the overall market has lost more than 12% in just a few days. Three of those times occurred in 2008*.
You know that feeling you get when some aggressive salesperson is pushing you to buy something that you KNOW you DO NOT want?