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Old 07-12-2016, 11:18 AM   #41
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All CaliforniaMan was trying to say was that he could see a head-and-shoulder pattern forming, but he was not yet sure if it is not a reverse head-and-shoulder.
You mean like his photo, right?
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Old 07-12-2016, 11:34 AM   #42
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sold IVV that i bought post brexit today. Build up a bit of dry powder!
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Old 07-12-2016, 11:54 AM   #43
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S&P on 5/31: 2097.

S&P on 6/30: 2099.

If your FA made you so much money for June, he's a h*** of a trader to beat the market so soundly. Or that he picked the right stocks for the month, and concentrated on them.
You got it right His FA is a effing genius
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Old 07-12-2016, 12:15 PM   #44
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He's not bad eh? I like him, he's worth his salt (1% AUM)

When I call him he answers the phone. Or his assistant does. Some real person.

I think he did one trade this year, sold the Lilly and bought Astra Zeneca.

I was up 60 grand from last month after Brexit and finished the month up 90 grand.
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Old 07-12-2016, 12:22 PM   #45
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If this guy makes this much for you, he makes even more for himself.

If I were him, I would not be in the office answering anybody's call. I would be in the Bahamas, swinging in a hammock, sipping pina colada while glancing at my smartphone every so often for my portfolio's total. When the market closes, and I finish my nap, it's time to walk to my favorite restaurant on the beach and see what fresh fish they have for dinner.

Your FA does not know how to enjoy life.
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Old 07-12-2016, 12:39 PM   #46
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Average FA has 165 clients. This guys made around 15 Million for his clients in flat month of June. Can you imagine what he will do in July? I would guess 60-100 million by now.


Not bad. He deserves to enjoy his life.
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Old 07-12-2016, 12:40 PM   #47
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If this guy makes this much for you, he makes even more for himself.

If I were him, I would not be in the office answering anybody's call. I would be in the Bahamas, swinging in a hammock, sipping pina colada while glancing at my smartphone every so often for my portfolio's total. When the market closes, and I finish my nap, it's time to walk to my favorite restaurant on the beach and see what fresh fish they have for dinner.

Your FA does not know how to enjoy life.
My cubemate made me laugh. He keeps talking about his horses, and his 20acres and the hay he makes with his land to feed the horses...

I says to him, wait a second, do you lease your land to farmers...how the hell do you bail hay and maintain your equipment to feed the horses if you are sitting next to me 40hrs /week typing on a keyboard...

He grins...a very big grin...and says "Boy do I have a sweet arrangement".

I say to my cubemate, please do tell...

He says to me, my neighbor owns and maintains the farm equipment, he does the farming and makes hay for me, in return I give him half of the hay.

I says, what the hell does your neighbor do for a living...


He's a financial advisor.
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Old 07-12-2016, 03:35 PM   #48
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I do not know what percentage of the portfolio the $90K represents, but unless the portfolio is big like $9 million so that it is just a small percentage (1% gain), when someone beats the market soundly then it means a concentration in a few stocks, or a sector.

Robbie, if my FA made me this money, I would look into what stocks I held, and asked the FA about his exit plan. No trees ever grow to the sky like Jack's beanstalk, not even something like Apple, or Cisco before it. So at some point one has to pick the ripe fruit and moves on. Not saying that I would sell a stock soon after it jumped a lot, but I would watch and understand if the trend was sustainable.

In Feb 2000, I watched in amazement when my portfolio jumped $30K in a good day (I picked my own stocks). I had less than now, and also was never fully invested so that this gain was big in terms of percentage. I never did sell, and when the market tanked later, these tech stocks crashed a lot harder than the market, and all my gains evaporated.
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Old 07-12-2016, 03:46 PM   #49
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They are mostly large cap US dividend paying companies. A few tech stocks, like facebook that I would have never bought on my own because I hate them. Oh, and Phillip Morris too, another one I would never have bought, friggin' death peddlers.

My bag is less than a third of 9 mill and year to date it's over 10% up. And you think I should sell it eh?

That's why I pay a financial advisor to watch my bag -
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Old 07-12-2016, 04:00 PM   #50
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OK, if your portfolio is diversified, even if it is mostly of one sector of the S&P, then it is reasonably safe. Carry on.

One cannot count on any trend lasting forever, but of course there's nothing wrong with celebrating a victory.


PS. About not watching your FA because he's so good, a lot of people made that mistake with Madoff.
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Old 07-12-2016, 04:09 PM   #51
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My guy is not a small operation like Bernie. It's Bank of America - Merrill Lynch.

I think they'll be around for a while -
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Old 07-12-2016, 04:26 PM   #52
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OK. Again, looks like you are safe.

About divie stocks, they have had a good run YTD. Some ETFs like Schwab's SCHD report a 10% gain YTD, like your portfolio. Some of my stocks like JNJ, ATT, Verizon, Walmart, 3M, etc... are up more than 20% YTD. Of course, I did not have enough of them, so the gains are diluted out by the stinkers. But that's the price to pay to be diversified.

PS. Merrill Lynch almost bit the dust, if it were not for BoA bailing them out. They were in over their head in subprimes. Their clients' assets would still be protected though, unlike Bernie's customers.

PPS. I also have accounts with Merrill Edge, a subsidiary of BoA. They are however self-directed accounts.
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Old 07-12-2016, 04:29 PM   #53
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I remember seeing Verizon and AT&T on my list.


Oh yeah, I remember the B of A buyout too. Pretty funny eh? Remember B of A whining about the government "forcing" them to buy Merrill? Oh the pain...

Merrill has been stacking dough for B of A ever since -
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Old 07-12-2016, 05:15 PM   #54
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I think it depends how earnings do. If earnings are decent we will stay at this level in the 2130's and higher. If earnings disappoint then we will likely see a correction or in the very least be in a trading range. Which one is more likely? Who knows?
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Old 07-12-2016, 07:08 PM   #55
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"News Alert: Brits vote to Brexit! Global equities crash pulling down US markets! The end of stock investing is at hand! Western economies as we know them will be shaken to their foundations! Run run run! Sell sell sell! We're all going to die!"

Oh, wait. Nevermind. Nothing to see here. We now return to our regularly scheduled market hypochondria.

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Old 07-12-2016, 09:15 PM   #56
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Oh yeah, I remember the B of A buyout too. Pretty funny eh? Remember B of A whining about the government "forcing" them to buy Merrill? Oh the pain...

Merrill has been stacking dough for B of A ever since -
I do not own or follow BoA stock, so am not aware of how profitable Merrill Lynch is.

I opened self-directed accounts with Merrill Edge because their offer for some free stock trades is just too good to pass up. If and when they renege on that, I may not stay with them, and may move the money to my existing Schwab accounts. Schwab has free trade on their own ETFs, plus some others.

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I think it depends how earnings do. If earnings are decent we will stay at this level in the 2130's and higher. If earnings disappoint then we will likely see a correction or in the very least be in a trading range. Which one is more likely? Who knows?
Yes, the pundits start to talk about this. And as Alcoa just opened the earning reporting season, we will know soon in the days ahead.
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Old 07-12-2016, 09:21 PM   #57
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The "Brexit week" started with big gains in the first several days... I sense a pattern here...
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Old 07-13-2016, 11:38 PM   #58
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OK. Again, looks like you are safe.

About divie stocks, they have had a good run YTD. Some ETFs like Schwab's SCHD report a 10% gain YTD, like your portfolio.
As far as SCHD and VIG goes I think it is more Wide Moat, high quality tilt of those ETFs that caused 10% gains.

They usually outperform in flat and down markets and underperform in up markets.
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Old 07-14-2016, 12:33 AM   #59
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Yes. While the above ETFs beat the S&P by 5% in the last 6 months, there were other periods where they trailed the S&P by that much. Different segments of the market take their turns under the sun.

One can make a lot of money if he catches the sector rotation just right, but of course it is not easy.
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Old 07-14-2016, 12:41 AM   #60
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Well it looks like SCHD, VIG will average out to beating S&P especially if you add in dividends.


High quality companies with steady raising dividends tend to do that.
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