Again, I don’t think any of that would matter if you were in arbitration the client could say he told me, he’s the expert that is why I hired him…

[quote=bankrep1]Again, I don’t think any of that would matter if you were in arbitration the client could say he told me, he’s the expert that is why I hired him…[/quote]


Everything I mentioned makes a huge difference.

[quote=ymh_ymh_ymh]

Yes, the lack of "conversation" on this thread with respect to specific sectors, securities, and/or other "investments" which may or may not be good ones to recommend to clients.[/quote]

Those conversations go on, just not here. I don't have numbers in front of me but I'd be very, very surprised if most wirehouse brokers were mostly in the annuity and fund business.

[quote=bankrep1]I have a prospective client whose broker`charged him 30K in commissions in a 300K account in a 6 month time frame.  [/quote]

10% in six months in commissions? Are you serious?

[quote=mktsystms]

[quote=bankrep1]No diversification, no strategy, no protective option

strategies, I completely disagree that a well diversified portfolio contains

the same level of risk as the above “strategy” I mentioned[/quote]Have

you ever read “How to make money in Stocks” by William O’Neil? He’s the

publisher of Investor’s Business Daily. His track record as a stock trader

takes a back seat to no one, and he has always argued against

diversification as a risk management technique. I remember listening to

him 20 years ago explain how diversification insures mediocrity. When

you say that there was no strategy employed in the account, are you

saying that the broker picked stocks to buy and sell by throwing darts, or

picking names out of a hat?[/quote]



Interestingly enough, the aforementioned book by Mr. O’Neil is selling for

$.01 on Amazon.

[quote=Starka] [quote=mktsystms]

[quote=bankrep1]No diversification, no strategy, no protective option

strategies, I completely disagree that a well diversified portfolio contains

the same level of risk as the above “strategy” I mentioned[/quote]Have

you ever read “How to make money in Stocks” by William O’Neil?  He’s the 

publisher of Investor’s Business Daily. His track record as a stock trader

takes a back seat to no one, and he has always argued against

diversification as a risk management technique.  I remember listening to

him 20 years ago explain how diversification insures mediocrity. When

you say that there was no strategy employed in the account, are you

saying that the broker picked stocks to buy and sell by throwing darts, or

picking names out of a hat?[/quote]



Interestingly enough, the aforementioned book by Mr. O’Neil is selling for

$.01 on Amazon.





[/quote]

Yup it hasn’t sold for much since about March of 2000…

[quote=Starka] [quote=mktsystms]

[quote=bankrep1]No diversification, no strategy, no protective option

strategies, I completely disagree that a well diversified portfolio contains

the same level of risk as the above “strategy” I mentioned[/quote]Have

you ever read “How to make money in Stocks” by William O’Neil?  He’s the 

publisher of Investor’s Business Daily. His track record as a stock trader

takes a back seat to no one, and he has always argued against

diversification as a risk management technique.  I remember listening to

him 20 years ago explain how diversification insures mediocrity. When

you say that there was no strategy employed in the account, are you

saying that the broker picked stocks to buy and sell by throwing darts, or

picking names out of a hat?[/quote]



Interestingly enough, the aforementioned book by Mr. O’Neil is selling for

$.01 on Amazon.



[/quote]

Why pay a penny for it?  You get it free when you subscribe to IBD.  His CANSLIM method of buying and selling stocks has stood the test of time.

[quote=mktsystms]

[quote=Starka] [quote=mktsystms]

[quote=bankrep1]No diversification, no strategy, no protective option

strategies, I completely disagree that a well diversified portfolio contains

the same level of risk as the above “strategy” I mentioned[/quote]Have

you ever read “How to make money in Stocks” by William O’Neil? He’s the

publisher of Investor’s Business Daily. His track record as a stock trader

takes a back seat to no one, and he has always argued against

diversification as a risk management technique. I remember listening to

him 20 years ago explain how diversification insures mediocrity. When

you say that there was no strategy employed in the account, are you

saying that the broker picked stocks to buy and sell by throwing darts, or

picking names out of a hat?[/quote]



Interestingly enough, the aforementioned book by Mr. O’Neil is selling for

$.01 on Amazon.



[/quote]Why pay a penny for it? You get it free when you subscribe to

IBD. His CANSLIM method of buying and selling stocks has stood the test

of time.[/quote]



Why subscribe to IBD to get the book for free when I can get it for a

penny (plus S&H, of course!)?

hmmmm...if I can get that in audiobook form, I can "read" that on my morning commute...

Rookie tip for the day...use your commute time productively.  I like audiobooks for educational (and entertainment) purposes and if I can find O'Neal's book in audio format reasonably, I'd buy it.

I also like to write down several phone numbers to call during my commute (on my hands-free headset of course), and my phone has a memo feature where I can dictate reminder notes to review when I get to the office.

Of course this tip isn't worth much if you only have a five-minute commute...but anytime you have a long road trip, why not get some work and/or education in?

[quote=Starka]


Why subscribe to IBD to get the book for free when I can get it for a

penny (plus S&H, of course!)?[/quote]


I guess you’ve never read IBD.

[quote=mktsystms]

[quote=Starka]

Why subscribe to IBD to get the book for free when I can get it for a

penny (plus S&H, of course!)?[/quote]I guess you’ve never read IBD.[/

QUOTE]

You’ve guessed wrong.



I prefer the Journal.

[quote=Indyone]

hmmmm…if I can get that in audiobook form, I can “read” that on my morning commute…

Rookie tip for the day...use your commute time productively.  I like audiobooks for educational (and entertainment) purposes and if I can find O'Neal's book in audio format reasonably, I'd buy it.

I also like to write down several phone numbers to call during my commute (on my hands-free headset of course), and my phone has a memo feature where I can dictate reminder notes to review when I get to the office.

Of course this tip isn't worth much if you only have a five-minute commute...but anytime you have a long road trip, why not get some work and/or education in?