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Politics : Welcome to Slider's Dugout
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To: canbyte who wrote (15360)2/13/2009 2:40:41 PM
From: Slife   of 50428
 
Thanks Canbyte,

I asked her to ask her planner what his "exit strategy" is if and when the dollar/treasuries collapse. In addition, I told her to ask the question in an open-ended fashion: my advice to her was if he didn't give a very specific answer with hard and fast exit points, "fire him" ASAP. Unfortunately, our citizens are so "programmed" to believe that financial planners are great investors. I really enjoy planning myself but found out that most of what a financial planner does is sales - 90% or so. Very few are versed at all in macroeconomics, even less, in Austrian economics. "Buy and hold for the long term" is their mantra. Again, no offense to financial planners on this board, but in a general sense, most financial planners are very clueless about what is going on and what is worse, are very clueless about how to navigate through the current investment enviroment.

Chris
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