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10-07-2017, 08:06 AM
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#81
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2005
Location: Northern IL
Posts: 26,891
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Quote:
+1
And another +1.
-ERD50
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10-07-2017, 08:07 AM
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#82
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Gone but not forgotten
Join Date: Jan 2007
Location: Sarasota,fl.
Posts: 11,447
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Quote:
Originally Posted by O2Bfree
. She's being somewhat evasive about this whole thing. Whether she doesn't want me to point out she's being taken or whether she doesn't trust my opinions, I'm not sure. Funny, mom and dad took many financial risks with my smooth-talking, substance-abusing brother, and lost a lot in the process. But they haven't much cared to hear advice from the quiet, millionaire-next-door-type daughter. Go figure.
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My Mom also got very evasive as she got older so I would not take that personally . I think it may be a trait a lot of older people have.
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10-07-2017, 08:53 AM
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#83
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Thinks s/he gets paid by the post
Join Date: Nov 2015
Posts: 2,692
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You have essentially hired someone to manage your portfolio.... Not that it's bad, but still some skim from your portfolio.
What's interesting, I'd bet that if you invested in Berkshire B (Buffet's fund index more or less) probably would have had a better return over S&P and most other indexes.
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10-07-2017, 09:59 AM
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#84
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2016
Posts: 8,968
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I started out with 3 different brokers and kept the one with the best performance.
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10-07-2017, 10:36 AM
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#85
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2011
Location: West of the Mississippi
Posts: 17,263
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That's easy. Do the opposite of me when buying and selling individual stocks.
__________________
Comparison is the thief of joy
The worst decisions are usually made in times of anger and impatience.
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10-07-2017, 01:44 PM
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#86
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Thinks s/he gets paid by the post
Join Date: Oct 2010
Posts: 1,225
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Quote:
Originally Posted by bobandsherry
You have essentially hired someone to manage your portfolio.... Not that it's bad, but still some skim from your portfolio.
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Yep, 0.04%, all in.
Quote:
Originally Posted by bobandsherry
What's interesting, I'd bet that if you invested in Berkshire B (Buffet's fund index more or less) probably would have had a better return over S&P and most other indexes.
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I'm not trying to out perform the market, owning it is good enough.
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10-07-2017, 04:27 PM
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#87
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2004
Location: Portland, Oregon
Posts: 7,113
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Quote:
Originally Posted by haha
To be direct, is your main concern for your inheritance or for her well being?
If it is for her well being, tell her that you cannot do this for her without complete information of what is going on. Then if she continues to be coy, cut her loose. Parents have no right to want services and help from their children then put blocks in the way of the son or daughter who is trying to help.
Ha
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Agree.
One option would be to talk to her old accountant and express your concerns. Some accountants care for their clients, some do not. Tell him/her that you understand the conflict of interest issues in managing her finances but he could spot churning of her account.
While the OP's mother may appear to be of sound mind and body I suspect she has judgement issues and could easily be taken advantage of by a sharp operator.
__________________
Duck bjorn.
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10-07-2017, 04:29 PM
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#88
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2004
Location: Portland, Oregon
Posts: 7,113
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Quote:
Originally Posted by bobandsherry
You have essentially hired someone to manage your portfolio.... Not that it's bad, but still some skim from your portfolio.
What's interesting, I'd bet that if you invested in Berkshire B (Buffet's fund index more or less) probably would have had a better return over S&P and most other indexes.
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I purchased that earlier this year and it is on fire!
__________________
Duck bjorn.
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10-09-2017, 12:35 AM
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#89
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2006
Location: Pacific latitude 20/49
Posts: 7,677
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Quote:
Originally Posted by Brat
While the OP's mother may appear to be of sound mind and body I suspect she has judgement issues and could easily be taken advantage of by a sharp operator.
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I think that applies to most people.
MIL was sharp as a tack and knew her money to the penny. But she trusted the portfolio manager and was being ripped off even though the MER was only 1%. Bad investment decisions. She had her niece look at the statements every month. When I asked the niece about it, she said she was just checking the math!
Of course the monthly statements were aimed at obfuscation.
__________________
For the fun of it...Keith
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10-18-2017, 08:53 AM
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#90
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Thinks s/he gets paid by the post
Join Date: Sep 2006
Posts: 2,844
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Well hopefully the FA did not sell IBM yet as it is up 9 percent today. This is somewhat continuing a trend of the time to buy a large cap DOW stock is after Berkshire announces they have done a major sell.
In 2011 Warren dumped JNJ and since it has outperformed BRKA 170% to 130%.
In 2009 Berkshire sold Home Depot, since then Berkshire is up over 200 percent, Home Depot 700 percent.
He sold Nike in 2010 and since Berkshire is up 150 percent while NIKE is up 250 percent.
He did though sell PG in May 2016 and since Bershire is up 26 percent while PG is only up 20 percent.
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10-18-2017, 09:06 AM
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#91
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Thinks s/he gets paid by the post
Join Date: Jul 2005
Location: Los Angeles area
Posts: 1,708
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from my favorite comic xkcd
__________________
learn, work, save, invest, fire
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10-18-2017, 10:04 AM
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#92
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Thinks s/he gets paid by the post
Join Date: Jan 2014
Location: Everett
Posts: 1,593
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Quote:
Originally Posted by Running_Man
Well hopefully the FA did not sell IBM yet as it is up 9 percent today. This is somewhat continuing a trend of the time to buy a large cap DOW stock is after Berkshire announces they have done a major sell.
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Nope, mom hung onto it.
The FA's recent push is to sell some of her Microsoft, which is doing pretty well these days. I showed her the MSFT chart, and she decided to hang on to it.
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10-18-2017, 10:07 AM
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#93
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2016
Posts: 8,968
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WooHoo, I'm up 20 bucks a share, 14% -
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10-18-2017, 11:27 AM
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#94
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Thinks s/he gets paid by the post
Join Date: Mar 2008
Location: Atlanta Suburb
Posts: 1,499
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Quote:
Originally Posted by flintnational
While I don't normally follow individual stocks, I suspect net of fees, IBM will perform better than the FA.
FN
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Hey, my crystal ball was working well that day! Unfortunately its a little cloudy today (and almost all other days).
FN
__________________
"Oh, twice as much ain't twice as good
And can't sustain like one half could
It's wanting more that's gonna send me to my knees" - John Mayer
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10-18-2017, 08:59 PM
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#95
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Thinks s/he gets paid by the post
Join Date: Feb 2004
Location: Mid Hudson Valley
Posts: 1,781
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IBM for me is a “forever hold”. FMs make money on the churn. Sell this, buy that... JMO
__________________
In a panamax down by the river.
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10-20-2017, 05:51 PM
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#96
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Full time employment: Posting here.
Join Date: Mar 2010
Posts: 889
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I think IBM is a value trap. They have had 22-23 straight quarters of revenue decline. Most of their services/products are in secular decline. If I owned IBM stock I would definitely sell after this recent rally.
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10-22-2017, 04:31 PM
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#97
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Full time employment: Posting here.
Join Date: Dec 2015
Location: Vancouver
Posts: 915
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Quote:
Originally Posted by ESRwannabe
I think IBM is a value trap. They have had 22-23 straight quarters of revenue decline. Most of their services/products are in secular decline. If I owned IBM stock I would definitely sell after this recent rally.
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A lot of the legacy tech companies, including IBM, are trying to make the transition from legacy Enterprise IT Services to cloud based services, infrastructure, and AI where companies like Amazon and Google have a jump. It's been a slow slog but IMO they'll be able to eventually capitalize on the IoT tidal wave building over the next 5 years which will rely on cloud services and AI. Just my opinion.
__________________
Good Riddance. April 2022
"Yes, there's some shady stuff going down but it's fuelled by stupidity."
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Mom's FA says to sell IBM
10-26-2017, 04:55 AM
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#98
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Thinks s/he gets paid by the post
Join Date: Jun 2013
Posts: 2,522
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Mom's FA says to sell IBM
Quote:
Originally Posted by O2Bfree
Well, I gave my mom the AARP article on what to ask an FA, and tried to talk to her about what to consider when an FA wants you to sell stock. She did not seem interested in either topic. I'm hoping she just needs some time to adjust to the idea of being wary of a finance professional. Or maybe she just wasn't in the mood to discuss investments that day.
I'll continue gently prying into the issue. Thanks everyone for your input!
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At 88, your Mom should have a designated POA. Ideally that should be a family member such as yourself. At her age someone ought to be more involved with her finances. It sounds as though you should be that person and you are trying to be. What would happen if she became incapacitated? One's cognitive abilities start to decline at ages less than your Mom's.
Sent from my iPad using Early Retirement Forum
__________________
"Luck favors the prepared mind"
Pasteur
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10-26-2017, 07:26 AM
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#99
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Thinks s/he gets paid by the post
Join Date: Jan 2014
Location: Everett
Posts: 1,593
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Quote:
Originally Posted by Golden sunsets
At 88, your Mom should have a designated POA. Ideally that should be a family member such as yourself. At her age someone ought to be more involved with her finances. It sounds as though you should be that person and you are trying to be. What would happen if she became incapacitated? One's cognitive abilities start to decline at ages less than your Mom's.
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She gave me POA when dad began to decline mentally. She and dad (who died in 2014) always took care of those kinds of details. I've been helping her in other ways for the past 6-7 years, but the money thing...some people are protective about that I guess.
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04-23-2018, 04:56 PM
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#100
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2016
Posts: 8,968
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Quote:
Originally Posted by RobbieB
My FA bought IBM on 8-21 for 140.19.
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And today I got notice that he sold it for 147.08.
Not bad. I made 5% on the price over 8 months not including dividends.
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