Stock Market Seems to Be Taking A Dive While ER.ORG Has Been On Other Assignments

[Dawg52]

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Originally Posted by ziggy29 I'm down about 5.5% YTD including today's carnage. It helps to have about 30% out of stocks and about 10% of my equity position in GDX today.

Roughly the same for me, DJP and my natural resource fund has helped me to some extent.

[Marquette]

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Originally Posted by FinanceDude No, I am expected to offer sound advice for free on this forum....... That being said, I have been reminded over and over again by a fair number on here how "guys like me" are unnecessary, inexperienced, and of no value............

Well, the problem is Ameriprise. That was my first, and, to-date only run-in with an FA. We've interviewed one other one since then, but couldn't get past his fee structure at that point (again, blame it on Ameriprise). Then I've got a friend who is friends with an FA. We've talked to him, he seems rather knowledgable and ethical. However, before we can do anything, he wants to charge us to put together a big, glossy plan. I don't know where I'll be next year much less in 5, 10 or 15 years, so it seemed like a waste of $3k.

Maybe I'll tell my wife I found a nice guy on the Internet to help . We live within a day's drive after all.

[haha]

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Originally Posted by FinanceDude No, I am expected to offer sound advice for free on this forum....... That being said, I have been reminded over and over again by a fair number on here how "guys like me" are unnecessary, inexperienced, and of no value............

Oh heck, it sounds like Dude is feeling unloved. Everyone, let's give it up for the Dude! (Sounds of clapping and cheering are heard.)

You are helpful you sweet person, and we should say so more often.

Ha

[bbbamI]

A flower for FDude.....@->->->----

[Moemg]

Dude ,you are the best !

[REWahoo]

Moemg, FD is going to be upset that you ratted out his new client development strategy...

[CuppaJoe]

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Originally Posted by FinanceDude .... And they are NOT selling, I had 5 guys buy heavy today alone...........

I chunked the last of my new Keogh money in just before you posted this. Wow, that was fun! I felt like I was riding shotgun with a reckless driver on the road down to Muir Woods (hairpin turns and steep drop offs). This isn't gloating, I also chunked a bigger amount in on June 4. That's entertainment! Still have some more new money to play with. Remember, "It's only money." Will I need stitches for the knife wounds on my hands?

[FinanceDude]

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Originally Posted by Marquette Well, the problem is Ameriprise. That was my first, and, to-date only run-in with an FA. We've interviewed one other one since then, but couldn't get past his fee structure at that point (again, blame it on Ameriprise). Then I've got a friend who is friends with an FA. We've talked to him, he seems rather knowledgable and ethical. However, before we can do anything, he wants to charge us to put together a big, glossy plan. I don't know where I'll be next year much less in 5, 10 or 15 years, so it seemed like a waste of $3k.

I had my own "run-in" with Ameriprise before it was Ameriprise. DW's grandfather left her some money that was with American Express. When we moved away, it took 2 months to transfer the account to the rep where we are now.

He wanted to do a plan and charge us $1200 for it, that was 1995. When I asked him how he justified charging us to do ANOTHER financial plan when my DW had one down just 18 months earlier, he gave me some BS about needing to "make different assumptions", etc. I told him no thanks on the "plan." He then agreed to do the "plan" for $200, and give us his recommendations. I balked but DW told him that was ok.......... His recommendation included a boatload of universal life insurance, and a portfolio of proprrietary mutual funds, all in B shares. I asked him the following question:

"So, you get folks to purchase a "plan" from you, and then you invest them in propreitary products with loads? Isn't that getting paid twice? He hemmed and hawed, and we ended up leaving, and I took over investing the account. So, not a lot different from the experiences I read on here...........

[Moemg]

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Originally Posted by CuppaJoe " Will I need stitches for the knife wounds on my hands?

Depends on how far you slice !

[Lsbcal]

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Originally Posted by Dawg52 ...To think the DOW was at 13k around May 19 and now it's down almost 1500 points in a month. If that doesn't frost your %$#! I don't know what does. Your right, the market makes me miserable. That's why I'm going to be out(well cut way back) if it ever gets back to what it was just a frigging month ago.

Sounds a bit like getting even and getting out. Not a good prescription for long term success. What about all those charts you see when running FIRECalc? Some of them go down for awhile before going back up. Bear markets are like this -- 2 steps down and 1 step up. You just have to hold on until the Bull market -- 1 step down and 2 steps up.

But I know how you feel :confused: . Wonder if my dog needs a walk? I sure do.

[HFWR]

This is a return chart, since 11/1/2007, for my 401k portfolio, with a value snapshot taken semi-monthly. Granted, it doesn't necessarily capture all the highs and lows, but gives a good trend line...

[Dawg52]

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Originally Posted by lsbcal Sounds a bit like getting even and getting out. Not a good prescription for long term success. What about all those charts you see when running FIRECalc? Some of them go down for awhile before going back up. Bear markets are like this -- 2 steps down and 1 step up. You just have to hold on until the Bull market -- 1 step down and 2 steps up.

Yep, that's all I want at this point. To get even. I'm not sure I will live long enough to see the "1 step down and 2 steps up" you describe. What's the disclaimer published at the end of all mutual fund prospectus? 'Past performance is no guarantee of future results'?

[Lsbcal]

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Originally Posted by Dawg52 Yep, that's all I want at this point. To get even. I'm not sure I will live long enough to see the "1 step down and 2 steps up" you describe. What's the disclaimer published at the end of all mutual fund prospectus? 'Past performance is no guarantee of future results'?

My friend (I'm trying out the politician's tactic ), I can promise you that you will live to see the next bull market. If I'm wrong I'll meet you in ...ummm ... the appropriate place .

[Dawg52]

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Originally Posted by lsbcal My friend (I'm trying out the politician's tactic ), I can promise you that you will live to see the next bull market. If I'm wrong I'll meet you in ...ummm ... the appropriate place .

See ya there.

[clifp]

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Originally Posted by FinanceDude No, I am expected to offer sound advice for free on this forum....... That being said, I have been reminded over and over again by a fair number on here how "guys like me" are unnecessary, inexperienced, and of no value............

We in turn provide you with free lessons on humility, it seems like a fair deal .

We've offered the same deal to Brewer but he seems to be a bit of a slow learner in the humility department.

[Marquette]

Here's why I love my wife... I mention that I heard the market was down. She says well, that's fine, it might go back up. I say that I heard it might not... could be down forever, just like in the 70's. She says well, if we keep putting as much in as we are, and it does turn around in 10 years, we'll be really rich. I told her that sounded like a good deal to me.

[TargaDave]

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Originally Posted by REWahoo Dawg, you need to be more optometristimistic...

No, you need to get the heck away from looking at your portfolio 5 times a week (over even once a month), get away from surfing this forum 3 hours a day, and just enjoy living your life!!! This board as a whole has lots of great attributes. Unfortunately it has a few bad ones.

[kumquat]

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Originally Posted by FinanceDude The majority of my clients are down 3-4%, while the indexes are down 10%. And they are NOT selling, I had 5 guys buy heavy today alone...........l

On your recommendation or their own volition? What about your other clients:confused:

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Originally Posted by FinanceDude No, I am expected to offer sound advice for free on this forum.......

Really, who told you that?:confused: You can do what you want here.

[2B]

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Originally Posted by FinanceDude No, I am expected to offer sound advice for free on this forum....... That being said, I have been reminded over and over again by a fair number on here how "guys like me" are unnecessary, inexperienced, and of no value............

That sounds familiar.

I'm down 5.01% as of the close on Thursday. I'm 60% in equities with 1/3 of that in foreign index funds. They've been getting hit pretty hard lately.

My comment on guys like you being unnecessary is based on my belief that most people have, or should have, very simple financial lives and that a little self education can equip anyone with average mental capacity to live below their means and create a diversified index portfolio on their own.

Unfortunately, their are many people that "can't be bothered" or believe it's "too complicated." For them to get anywhere, paying people in your occupation a few grand a year is probably in their best interest.

From what I've heard from you, you're in a fee only practice and don't seem to be a big annuity salesman. That puts you in the top tier of people I'd personally never employ but won't grit my teeth if someone does go to you. Unfortunately, their are many people that call themselves "financial advisers" that could be better described as "financial predators."

[ziggy29]

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Originally Posted by 2B Unfortunately, their are many people that "can't be bothered" or believe it's "too complicated." For them to get anywhere, paying people in your occupation a few grand a year is probably in their best interest.

Is it unfortunate? If people don't want to do it, they don't want to do it. When I lived in Houston, I knew how to mow the lawn and maintain the landscaping, but I didn't WANT to do it and I made a decision to pay someone $30 every week or two to do it for me. It was worth it to me.

Now if it's only a matter of people being intimidated about it and don't think they can learn how to manage their own money, maybe it's a matter of education.

Then again, if they are nervous nellies who would either keep everything in CDs for 30 years or sell into bear markets, these are also people who would likely be better off listening to a fee-only planner with no conflicts of interest who can help talk them off the ledge.

You and I may feel comfortable managing our money, and indeed we may be appalled at the thought of anyone else doing it for us. But it takes all kinds...