George Pinto wrote:
> Anyone advising you about the future should be avoided like snake-oil
>salesman
> (also ask them if they have ACTED on their own advice).
I am 100% with you on this one, George.
Just last month, as I was walking into a friends house, I could hear him on the
phone with
his broker. He was shouting, "I don't need to pay someone money to LOSE money
for me.
I can do that on my own." For those who gave good advice in past, business is
good.
Those that did not, are paying the price.
> Regarding what might happen, financial ignorance may be bliss in this case.
> If anyone claims to
> know what is going to happen, ask them how they did in the market in the last
> six months and
> how much they lost (let them show you their ACTUAL brokerage statement before
> you believe them).
> That will reveal their "expert advice" and quickly put an end to these
> palm-readers.
On the other hand, every professional financial adviser, every mutual fund
salesman, every brokerage
firm employee will emphasize, time and time again, that "past performance of
this company/fund is not
an indication to how the fund will perform in the future."
I do not think there is a single person here that is going to rush out and buy
or sell a stock because
of a post s/he reads on Goanet. Reading opinions on this site may give the
reader more knowledge
on the issues involved. Hopefully, when they do invest, they will understand
that investing means
long term planing.
Financial ignorance is never bliss.
Mervyn1650Lobo
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