Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Point and Figure Charting -- Ignore unavailable to you. Want to Upgrade?

To: james ball who wrote (7749)	9/24/1998 7:42:00 PM
From: Jorj X Mckie	Read Replies (2) \| Respond to of 34811

In response the ML whining article... Mr. Steffens talks about wisdom and trust. If ML has so much wisdom, why are they having such difficulties now. Stock price down from $109 to $52. If they do not have the ability to manage their own investments successfully, why should I trust them to manage mine successfully? How many of his smaller individual investors did he warn to take a defensive position at the highpoint in July? Mr. Steffens should take a class in Marketing 101. His market has changed and he refuses to change with it. The internet has allowed individual investors to have access to information that was traditionally only easily available to the financial services professionals. Mr. Steffens paternal tone of "we know what's best for you" betrays a condescension that he has for the individual investor. He is like a parent that refuses to acknowledge that his children have grown up. Part of the growing up process is to take responsibility for one's own destiny. That is what individual investors are in the process of doing. Financial service organizations that choose to enable this process (such as DWA) will have continued success. Those that do not will end up like the parent whose children refuse to visit him at his death bed. What I see in the future is two models for investments services; Do it yourself, no frills, transaction based, like the internet trading today and full service money management where the financial consultant/money manager has a vested interest in the success of his customer's investments (customer doesn't make money, financial consultant doesn't make money). The traditional stockbroker model is pure overhead and will be eliminated. Also A very good response to ML's article from Motley Fool. fool.com OT