The economy, is it good or bad. (Page 167/181)
ditch JAN 16, 01:23 PM

quote
Originally posted by 84fiero123:


Ah but these professionals recommended bad stock investments even when they knew they were bad. Great example was supplied by me earlier in this thread about how the state of Maine took the advise of one of those so called pros when the stocks were headed down and then just kept going. Loosing the state Millions.

Why should they get paid if their advise is bad?

If they make money sure, if not no.




Did you miss the word "risk"? Sure there are some dicks out there that will sell anything to make a buck, but the fact is there are plenty of good honest investment professionals that will do the best they can to get you into a healthy portfolio.

Are they supposed to know what the market is going to do in the next 2, 5, 10+ years? They're not magicians. They use the data they have on hand to make a decision. Remember, many who hold investments have had them for several years or more. Is this recent instability in the market a cause for them to go after their investment advisor who set up the account 2, 5, 10+ years ago and complain? Absolutely not.

Not everyone in the market is a day by day trader. A large chunk of investors fall into the category like myself, simply having 401k's and private mutual funds, not something they purchased last month and wanted to cash in today. So should I go after my financial planner because my mutual fund didn't do as good as I wanted it to in 2007? Hell, he set my account up 5 years ago, he should have known right?
84Bill JAN 16, 01:35 PM
Fact is slimy brokers DO sell stocks that are tanking. If this wasnt true then there would be no need for "anti-trust" laws and people like Martha Stewart wouldn't have been forced to vacation at club fed to design all those nifty Christmas ornaments to decorate her concrete Christmas tree.

[This message has been edited by 84Bill (edited 01-16-2008).]

ditch JAN 16, 01:40 PM

quote
Originally posted by 84Bill:
Fact is slimy brokers DO sell stocks that are tanking.



I don't think anyone is disputing that.


quote
Originally posted by 84Bill:
If this wasnt true then there would be no need for "anti-trust" laws and people like Martha Stewart wouldn't have been forced to vacation at club fed to design all those nifty Christmas ornaments to decorate her concrete Christmas tree.



it's a good thing
84Bill JAN 16, 01:44 PM

quote
Originally posted by ditch:
I don't think anyone is disputing that.



True to a degree. I see an argument that the brokers can chalk up underhanded dealings and mitigate it down to "risk" when they knew damn well they would walk away with a tidy sum of money handling the transaction. Theres nothing to stop them from this practice as their commissions are assured with the completion of the transaction they recommended to their client.
ditch JAN 16, 01:51 PM

quote
Originally posted by 84Bill:


True to a degree. I see an argument that the brokers can chalk up underhanded dealings and mitigate it down to "risk" when they knew damn well they would walk away with a tidy sum of money handling the transaction. Theres nothing to stop them from this practice as their commissions are assured with the completion of the transaction they recommended to their client.




I totally agree.

Again, I want to point out that there are plenty of good honest financial advisors/brokers out there. Many people are losing money in todays market, but not all because their broker/advisor is a crook.
84Bill JAN 16, 01:55 PM

quote
Originally posted by ditch:
I totally agree.

Again, I want to point out that there are plenty of good honest financial advisors/brokers out there. Many people are losing money in todays market, but not all because their broker/advisor is a crook.



I do agree with that assessment.
There are those who feel that they provide a service and take pride in it and thats very nice to see.
It is a shame to see them get whitewashed by a few underhanded snakes in the grass though.
ditch JAN 16, 01:58 PM

quote
Originally posted by 84Bill:
There are those who feel that they provide a service and take pride in it and thats very nice to see.
It is a shame to see them get whitewashed by a few underhanded snakes in the grass though.



amen brother

[This message has been edited by ditch (edited 01-16-2008).]

84Bill JAN 16, 02:16 PM

quote
Originally posted by ditch:
amen brother



It would be nice to know that were truly the end of it. The sad fact is in desperate times such as these, those who play by the rules and don't sell and maintain performance levels will ultimately end up swallowing much of their pride to earn money for the firm.

When brokers lay off they don't lay off their top performer who tend to bend the rules of public trust.... just a bit.
84fiero123 JAN 16, 02:18 PM

quote
Originally posted by ditch:
Did you miss the word "risk"? Sure there are some dicks out there that will sell anything to make a buck, but the fact is there are plenty of good honest investment professionals that will do the best they can to get you into a healthy portfolio.

Are they supposed to know what the market is going to do in the next 2, 5, 10+ years? They're not magicians. They use the data they have on hand to make a decision. Remember, many who hold investments have had them for several years or more. Is this recent instability in the market a cause for them to go after their investment advisor who set up the account 2, 5, 10+ years ago and complain? Absolutely not.

Not everyone in the market is a day by day trader. A large chunk of investors fall into the category like myself, simply having 401k's and private mutual funds, not something they purchased last month and wanted to cash in today. So should I go after my financial planner because my mutual fund didn't do as good as I wanted it to in 2007? Hell, he set my account up 5 years ago, he should have known right?



And just how long do you think it will take these people who bought these stocks in the banks to recover their losses?

What about those who invested their retirement funds in these banks that said yes we are in fine shape and the next day posted 46% losses?
84Bill JAN 16, 02:29 PM
Mortgage meltdown: Now the rents
More fallout from the current housing slump - the cost of renting a home stagnagted in 2007, according to an exclusive report for CNNMoney.

Yet another domino set to tip.

I never considered the fact that when housing prices fall renters who have mortgages normally don't ask for much more than the value of the mortgage on the property they are renting.

I've already seen a few "rotations" of renters in my neighborhood alone some of which were gone by dawn types. I cant help but to think how the owner will be able to pay the mortgage on a tenant that has either skipped out or cant make the rent payment.