Bob Brinker: Market Savant & Radio Host Message Board

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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host

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To: Investor2 who wrote (546)	5/21/1997 9:34:00 AM
From: Lars	of 42834

inv2, at least she has $250,000 left...... i looked over a portfolio for an elderly lady (widow)about 2 yrs ago......her husband died and she was left with about $240,000 with life insurance proceeds, etc...... she was placed in partnerships and today she has a portfolio worth about $26,000......remember this is illiquid......so now she is left with social security......this was one of the most "gut wrenching"(sp?) experiences i have had......if she would have been in bonds she would earn ~$15,000 per yr without touching the asset base....... again, this is not to say all people are sharks....but there are a helluva lot of them imho.......the funniest thing about this partnership area, life insurance churning, etc (e.g. prudential) is to see them getting away with it.......the last i read they wanted to settle the case for ~$2 billion but they sold something like ~$9 billion worth of the product.......does anyone know the details?? lars

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