Well, BX, this is certainly an interesting response to my post. I agree that when it comes to your money, you can't trust anyone else to handle it for you. That has been my experience with brokers and others as well.
Excerpt from article you referred me to.
"Mr. Smith, who is 32 years old, couldn't be reached for comment. In testimony last year before the National
Association of Securities Dealers, he denied doing anything
improper. Dean Witter told the NASD it had no knowledge
of the real-estate deal. The company, now part of Morgan
Stanley Dean Witter & Co., declines to comment on the
Smith matter.
[Trough it all runs a broader investing lesson. Those
who otherwise may be skeptical of brokers managing their
money often let their guard down when dealing with people
they know or relate to well.]
Mr. Smith “got my trust by being someone like me,” says the
soft-spoken Mr. Roberts, 35. “Not only was he another black, he was
an ex-football player, he came from Alabama and went to the
same schools.”
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