Thing is whenever the average people get tips on buying hot stocks from some source, it’s likely already too late – old-worthless info. How does the ultra-wealthy make a killing in the markets? They have hedge fund guys buying and selling and hedger’s become millionaires off their client’s money. Computer generated buying/selling millions in a second. MO, the markets are for the mega-rich and they tank the markets. If they didn’t dump their stocks they wouldn’t take a sky-fall. For the rest of the average sorts, like me, the advice from their brokers when the market is going down the toilet is, to stay put, hang on, the market will recover. Can’t count how many times I’ve been given this advice. Meanwhile, what have the folks with the huge cash done? Lol nope, THEY haven’t done this.
If it isn’t this, it is “Lets take out that $30k in this stock or that portfolio and put it over in this one. It is lower risk, or tends to perform better in down cycles.” Great, that $30k I paid $45k for goes over ‘there’. Later on when the market swings back and my recovery looks nothing like THE recovery, my broker says “Well, remember your recovery is less since you were interested in moving that portfolio you had to reduce your risk.”
I get calls from my broker maybe half-dozen times a year. The gist is to ‘review my plan’ or to invite me to some dinner at a country club to listen to financial experts. I already have a plan we discussed four months ago and you are my expert. What I could have been called on is that portfolio I lost $15k in, say when it was down $5k, to move it? MO, the whole deal isn’t set for average schmucks. The people with big money are getting calls from their brokers all the time involving buying and selling…not to review their friggin ‘plan’ to see how long they have before it’s gone, or I love this, lets re-review your spending budget. Ahh NO. Focus on earning your fees to lower my losses and maybe increase the value of my fund. Just my overall perspective about this..
If it isn’t this, it is “Lets take out that $30k in this stock or that portfolio and put it over in this one. It is lower risk, or tends to perform better in down cycles.” Great, that $30k I paid $45k for goes over ‘there’. Later on when the market swings back and my recovery looks nothing like THE recovery, my broker says “Well, remember your recovery is less since you were interested in moving that portfolio you had to reduce your risk.”
I get calls from my broker maybe half-dozen times a year. The gist is to ‘review my plan’ or to invite me to some dinner at a country club to listen to financial experts. I already have a plan we discussed four months ago and you are my expert. What I could have been called on is that portfolio I lost $15k in, say when it was down $5k, to move it? MO, the whole deal isn’t set for average schmucks. The people with big money are getting calls from their brokers all the time involving buying and selling…not to review their friggin ‘plan’ to see how long they have before it’s gone, or I love this, lets re-review your spending budget. Ahh NO. Focus on earning your fees to lower my losses and maybe increase the value of my fund. Just my overall perspective about this..
) and she lived almost to the end. There were times when I'd be out front when she was driving by and I'd wave and she would just scowl and keep driving. She once told my youngest daughter that she never dreamed we'd be so far apart from each other in our later years. Told my daughter what did she expect with the way she is lol.
