I'm not sure exactly when the news started making the news instead of reporting the news, but one thing is for certain - the media has an axe to grind. They seem to want to report only the stories that are shocking, breaking, or mind blowing. We can't hate them for it, they are just trying to sell advertising and keep you watching, but what are you supposed to do with the flood of informations and often misinformation about the markets and your money? It has been said that knowledge is power. Some people think that information is knowledge, but information is information. Knowledge is information and enough scars (experience) to know what to do with the information. I would encourage anyone that is concerned with the future of their money or their retirement to seek professional advice. We know things that you don't. Will Rogers said "It's not what you don't know that's the problem...It's what you know that ain't so". Unless you are reading 10 economist's weekly notes, studying monetary policy, the yield curve, interest rates, trends, and sentiment - then you need to hire someone. In the end, find somenone that you know that has money and ask them who they use. Interestingly enough, if you were to ask someone that you know has money, my bet is that they are using someone. Soar or plunge? How about plod or cruise? I like those better. You can visit me at http://www.ameripriseadvisors.com/james.w.mewborn/?BNR=solc%5Fid%3D23709%26vend%5Fcd%3DALA%26offer%5Fid%3D1315 for more information.
Wednesday, April 8, 2009
Soar or Plunge - A tale of informed investors
If you walked into an elevator and the only buttons to push were labeled soar or plunge - which one would you choose. I ask this question occasionally in my talks. I get varied answers, mostly people answer soar. I then go into my dissertation about Charlie flying in the glass "Wonkavator". I assure you, both answers are incorrect. Neither answer brings peace of mind or safety.
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