[quote=BankFC]
I write, as well as speak, very clearly about whatever subject I am writing or speaking about.  So when I say I do not believe it is neccessary to get up at 5:00 am to check the news, it does not mean I do not follow the news, it means I do not follow the news at 5:00 am.[/quote]<?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

No, sorry, Bank. If you had simply said the above, no one with have taken issue with you (aside from nutjob Putsy). I certainly don't think you need to get up to watch the news at 5AM Eastern Time.

 It’s when you said this; If I didn't look at a TV or a news website for an entire day, or even a week, do you think I could still perform my job adequately? . That’s when I responded and said “No”.

[quote=BankFC]
So again, I stand by my statement.  Could I not see a TV for a week and still be a good advisor...ABSOLUTELY.[/quote]

Fair enough and I stand by mine, namely; “Anyone who asks this question….is either joking or doesn’t understand his role".

[quote=mikebutler222]

[quote=BankFC]
I write, as well as speak, very clearly about whatever subject I am writing or speaking about.  So when I say I do not believe it is neccessary to get up at 5:00 am to check the news, it does not mean I do not follow the news, it means I do not follow the news at 5:00 am.[/quote]<?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

No, sorry, Bank. If you had simply said the above, no one with have taken issue with you (aside from nutjob Putsy). I certainly don't think you need to get up to watch the news at 5AM Eastern Time.

Mike, it's not my fault that things have to be stated and restated in order for you to understand them.

 It’s when you said this; If I didn't look at a TV or a news website for an entire day, or even a week, do you think I could still perform my job adequately? . That’s when I responded and said “No”.

I do stand by this, and I understand my role all too well.  My role IS NOT A MONEY MANAGER.  If it was, I would be agreeing with you.  My role is to help people choose their own investments, be it short term debt, mutual funds, annuities, whatever. 

I disagree that one should make/change long term investment choices based on short term events. 

I incorporate core/satallite in many of my folks portfolios, but again, I WOULD NOT make a change based on an average day's worth of news, or even a week's worth.  OBVIOUSLY there are extreme examples, but I am speaking in general terms. 

[quote=BankFC]
So again, I stand by my statement.  Could I not see a TV for a week and still be a good advisor...ABSOLUTELY.[/quote]

Fair enough and I stand by mine, namely; “Anyone who asks this question….is either joking or doesn’t understand his role".

The fact is I don't believe YOU understand MY role.  Perhaps we conduct business differently.  All I know is I have happy clients that I have educated and empowered to make decisions for themselves with my guidance.

From where I'm sitting, if that means I don't know my role, hopefully I never will.

Could I not see a TV for a week and still be a good advisor...ABSOLUTELY.

Only if you spend a great deal of time reading professional publications, news related blogs and websites, the Wall Street Journal, your local newspaper and various radio news programs.  Otherwise....NOT.

I don't believe that we need to regurgitate the pap that is presented on television, but we do need to be aware of economic trends, political winds and events in the world that affect our client's investments.  When clients ask you about the Alcatel/Lucent merger, for instance, you'd better have something to say about it and not have a blank look on your face. If they question you on the fluctuation in oil prices, you need to have an understanding of world events and how they affect oil and be able to pontificate on those.  It's also nice to have an understanding of historical trends and be able to make comparisons to things that have affected the markets in the past to events happening today.  Your clients will have memories of these times. You should be able to discuss the 1970's oil crunch/shortage and make relevant observations on today's situations, whether you were around or just in diapers at the time.

If I were a client and my advisor appeared unaware or clueless,  I would soon cease to do business with him or her.

Client's don't care how much you know nearly as much as knowing how much you care.

There will always be someone more up to date, smarter, more agressive, etc.  I have NEVER lost a client due to lack of knowledge.

[quote=BankFC][quote=mikebutler222] <?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

[quote=BankFC]
I write, as well as speak, very clearly about whatever subject I am writing or speaking about.  So when I say I do not believe it is neccessary to get up at 5:00 am to check the news, it does not mean I do not follow the news, it means I do not follow the news at 5:00 am.[/quote]

No, sorry, Bank. If you had simply said the above, no one with have taken issue with you (aside from nutjob Putsy). I certainly don't think you need to get up to watch the news at 5AM Eastern Time.

Mike, it's not my fault that things have to be stated and restated in order for you to understand them.

That's a pretty pathetic response, Bank. You didn't need to restate anything. The fact is you tried to move my response (the “no”) from the question you asked (“If I didn’t ….) to another (Do I have to get up and watch the news at 5AM). That’s dishonest.

 It’s when you said this; If I didn't look at a TV or a news website for an entire day, or even a week, do you think I could still perform my job adequately? . That’s when I responded and said “No”.

I do stand by this, and I understand my role all too well.  My role IS NOT A MONEY MANAGER.  If it was, I would be agreeing with you.  My role is to help people choose their own investments, be it short term debt, mutual funds, annuities, whatever. 

Good, stand by it, I still think you’re wrong. It isn’t the money manager’s job to tailor asset allocation to tactical opportunities (and I gave you a personal example) it’s yours. If you think otherwise, fine, I think you’re wrong. Clear enough?

I disagree that one should make/change long term investment choices based on short term events. 

Well, had someone in this discussion suggested that, you might have a point. You still don’t seem to understand what a tactical opportunity is, so let it go.

I incorporate core/satallite in many of my folks portfolios, but again, I WOULD NOT make a change based on an average day's worth of news, or even a week's worth.  OBVIOUSLY there are extreme examples, but I am speaking in general terms. 

You’re speaking in CYA, pal. Bottomline, for me at least, advisors have to be informed, daily, to advise.

[quote=BankFC]
So again, I stand by my statement.  Could I not see a TV for a week and still be a good advisor...ABSOLUTELY.[/quote]

Fair enough and I stand by mine, namely; “Anyone who asks this question….is either joking or doesn’t understand his role".

The fact is I don't believe YOU understand MY role. 

No Bank, perhaps I don’t. Clearly you and your role are unique in the entirety of the investment world.

 Perhaps we conduct business differently.  All I know is I have happy clients that I have educated and empowered to make decisions for themselves with my guidance.

Then ask them if they think you could do your job if you didn’t keep up with current events. In fact, how about leaving this forum and ask THEM the question you asked me, the one I said “NO” to, and see how they feel about it.

Better still, give me their names and let me ask them.

 [/quote] [/quote]

[quote=BankFC]

Client's don't care how much you know nearly as much as knowing how much you care.

[/quote]

You keep on believing that, Bank....someday your clients will find someone who's capable of both.

[quote=babbling looney]

Only if you spend a great deal of time reading professional publications, news related blogs and websites, the Wall Street Journal, your local newspaper and various radio news programs.  Otherwise....NOT.

[/quote]

Wow, BL, how dare you suggest that people in our business need to be professional and informed.....

There will always be someone more up to date, smarter, more agressive, etc.  I have NEVER lost a client due to lack of knowledge.

That you know of, anyway

[quote=mikebutler222]

[quote=BankFC][quote=mikebutler222] <?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

[quote=BankFC]
I write, as well as speak, very clearly about whatever subject I am writing or speaking about.  So when I say I do not believe it is neccessary to get up at 5:00 am to check the news, it does not mean I do not follow the news, it means I do not follow the news at 5:00 am.[/quote]

No, sorry, Bank. If you had simply said the above, no one with have taken issue with you (aside from nutjob Putsy). I certainly don't think you need to get up to watch the news at 5AM Eastern Time.

Mike, it's not my fault that things have to be stated and restated in order for you to understand them.

That's a pretty pathetic response, Bank. You didn't need to restate anything. The fact is you tried to move my response (the “no”) from the question you asked (“If I didn’t ….) to another (Do I have to get up and watch the news at 5AM). That’s dishonest.

 It’s when you said this; If I didn't look at a TV or a news website for an entire day, or even a week, do you think I could still perform my job adequately? . That’s when I responded and said “No”.

I do stand by this, and I understand my role all too well.  My role IS NOT A MONEY MANAGER.  If it was, I would be agreeing with you.  My role is to help people choose their own investments, be it short term debt, mutual funds, annuities, whatever. 

Good, stand by it, I still think you’re wrong. It isn’t the money manager’s job to tailor asset allocation to tactical opportunities (and I gave you a personal example) it’s yours. If you think otherwise, fine, I think you’re wrong. Clear enough?

I disagree that one should make/change long term investment choices based on short term events. 

Well, had someone in this discussion suggested that, you might have a point. You still don’t seem to understand what a tactical opportunity is, so let it go.

I incorporate core/satallite in many of my folks portfolios, but again, I WOULD NOT make a change based on an average day's worth of news, or even a week's worth.  OBVIOUSLY there are extreme examples, but I am speaking in general terms. 

You’re speaking in CYA, pal. Bottomline, for me at least, advisors have to be informed, daily, to advise.

[quote=BankFC]
So again, I stand by my statement.  Could I not see a TV for a week and still be a good advisor...ABSOLUTELY.[/quote]

Fair enough and I stand by mine, namely; “Anyone who asks this question….is either joking or doesn’t understand his role".

The fact is I don't believe YOU understand MY role. 

No Bank, perhaps I don’t. Clearly you and your role are unique in the entirety of the investment world.

 Perhaps we conduct business differently.  All I know is I have happy clients that I have educated and empowered to make decisions for themselves with my guidance.

Then ask them if they think you could do your job if you didn’t keep up with current events. In fact, how about leaving this forum and ask THEM the question you asked me, the one I said “NO” to, and see how they feel about it.

Better still, give me their names and let me ask them.

 [/quote] [/quote]

[/quote]

I'll send you my client list after you change B/D's again...no sense in them doing ACAT paperwork twice.

[quote=BankFC] [quote=mikebutler222] [quote=BankFC]<?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

 Perhaps we conduct business differently.  All I know is I have happy clients that I have educated and empowered to make decisions for themselves with my guidance. [/quote]

Then ask them if they think you could do your job if you didn’t keep up with current events. In fact, how about leaving this forum and ask THEM the question you asked me, the one I said “NO” to, and see how they feel about it.

Better still, give me their names and let me ask them.

 [/quote]

I'll send you my client list after you change B/D's again...no sense in them doing ACAT paperwork twice.

[/quote]

Hey, when you have nothing else to defend yourself, you can always try that empty well again, eh?

The challenge stands, call your clients and ask them if they think you can do your job well enough to keep their business is you don't bother to stay informed.

is = if

[quote=Indyone]If the Dow doesn't hit 12K before the election, I don't think you'll see it this year.  New polls show the Dems likely getting both the house and senate, and I don't see Nancy Pelosi and Ted Kennedy being good for the market.[/quote]

The Dem sweep looks like a reality as of this post, assuming Virginia stays blue.  At least we got 12K before the election...

Time to move to bonds, and start to hide cash in the freezer!!!

At least no more adds. Maybe this is a down for the econemy. I mean the adds pumped so much life into everything.

[quote=apprentice]Time to move to bonds, and start to hide cash in the freezer!!![/quote]

I know of a couple who did that when Clinton was elected.

Have fun Mr. Money Savvy

No more adds. Ahh, for sure we are in a down turn now. I think the adds stimulated the economy. How many billions were spent, how many snacks and drinks in the campaign HQ’s?

Yes - Clinton was awesome!  Straight up - Straight down (and then some).  In fact - the Clinton recession was the most memorible.  Praise the Lord that the Bush administration repaired the damage from those years.

I never said Clinton was awesome.  If you read the post, it concerned the wisom of making broad financial decisions based on faulty premises. 

Repaired the damage? To me it looks like he is causing exponentially more damage, figuratively and literally than Clinton ever did.

Praise the Lord.

Dude - I know it's tough for you (libs) to understand economics.  But moving the largest economy in the world to a 'socialistic' system will cause grave damage.  In fact - President Clinton (Hillary) is already salivating with the Dem victory saying today that Hillary-care is once again coming around.  High taxes, Hillary-care, terror appeasing dems - it's definitely cash in the freezer times.  However, for us capitalist - it should create some good tax strategy and life insurance conversations.

[quote=dude]

[quote=apprentice]Time to move to bonds, and start to hide cash in the freezer!!![/quote]

I know of a couple who did that when Clinton was elected.

Have fun Mr. Money Savvy

[/quote]

Just for the sake of accuracy (and not because I either believe the end is upon us OR that I think we should cash out based on who was elected, BUT) the couple that sold when Clinton was elected did very well, assuming they bought back in when the GOP Congress was elected.