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Jul 27, 2009 9:40 am

[quote=YHWY] Right… I’ll shoot a list of my clients right out. How stupid are you? Look, either prove your ridiculous claims of market timing or shut up. Either way, my own knack of prognostication sees a career change in your future. The good news is, if you’re not a liar, you could still get rich…just not in our business. Your manager will be explaining this to you in detail.

[/quote]



Wow, you’re stupid. Have you not noticed on these boards - I own an RIA. I don’t have a manager. But that must be your world, the employee world and that’s all you know. Like all you know is selling.



Well, I guess if you can’t prove it by posting, you must be lying.



The good news is, that there are still stupid people out there who would rather listen to a financial psychologist than a financial advisor, because people are easily sold.

Jul 27, 2009 9:02 pm

[quote=YHWY] Your manager will be explaining this to you in detail.
[/quote] 

My manager is very happy with what I'm doing. As for your number one concern, production, I'll just break $250 large TTM this last month of year two. My goal was $200 so I'm happy.    Next year I'll do over $400 large and $30 million AUM.
The best way to prospect is to find a couple wealthy people and make good money for them... and they will come. Birds of a feather flock together
 
Jul 27, 2009 9:07 pm
The best way to prospect is to find a couple wealthy people and make good money for them… and they will come. Birds of a feather flock together [/quote]



Gaddock you are wasting your breath. Guys like him don’t believe in making people money.
Jul 27, 2009 10:14 pm
Moraen:

Gaddock you are wasting your breath. Guys like him don’t believe in making people money.

  I think he's more jaded and has lost spirit. If you have to count on others to make the money for you I can see what a kick in the boys the last year and 1/2 must have been like. Smartest guys in the world got killed. Even in my office I think me and one other guy are the only ones that went short through the slide. Can you imagine being in mutual funds that can only go long?? OUCH!   If this job was only about production I would quit. If that's what it was all about how could one look into a persons eyes with honesty???? Not me. I consider the market the ultimate game of chess and or strategy. I love the game and it turns out I'm good at it AND it pays VERY WELL. What else could a guy ask for?    
Jul 27, 2009 10:19 pm

My clients and myself are in long only mutual funds and have continued to buy every two weeks the entire way down. It isn't bothering me a bit. To each their own.

Jul 27, 2009 10:28 pm

Ron14- Expand your thinking and protect your clients…

Jul 27, 2009 10:32 pm

[quote=Ron 14]

My clients and myself are in long only mutual funds and have continued to buy every two weeks the entire way down. It isn't bothering me a bit. To each their own.

[/quote]   I hear you Ron. What do you tell HNW accounts? Safe bet you don't recommend DCAing into long only mutual funds. I think the size of the accounts you are brining in are commensurate with the products you recommend.
Jul 27, 2009 11:48 pm

I am not going to change my philosophy because some guy has 2mil and another guy has 250k. Obviously every investors needs are different and I do use real estate, commodities, and bonds in portfolios, but long equity positions are the core.

Jul 28, 2009 12:12 am
Ron 14:

I am not going to change my philosophy because some guy has 2mil and another guy has 250k. Obviously every investors needs are different and I do use real estate, commodities, and bonds in portfolios, but long equity positions are the core.

  I hear you. A foundation was recently referred to me and I put together a plan that was in-line with a rather large sum of $$ in it. These people were very VERY sharp. If I would have suggested putting it into mutual funds I would not have the account. There is a GIANT difference between a $250k, where a MF may be appropriate and a 2 million account where IMHO they are not. They are simply another layer of fees to pay, not to mention you don't really know what they are buying and selling real time and if there is style drift you don't know it until after the fact. It seems to me that you have no accredited investor accounts or your tune would be a bit different.    BUT what ever blows up your skirt.
Jul 28, 2009 2:15 am

At a certain $ amount mutual funds won't provide the optimum mix of equities. I am not saying I use 100% mutual funds, but since a majority of my clients are in the 50-150k range I use funds and ETF's the most. What I am saying is my investing philosophy isn't going to change depending on the dollar amount. Nor am I going to preach some market timing strategy that can't be repeated in order to win an account because it will impress "an accredited" investor. The first time you miss that account is gone.

Jul 29, 2009 8:51 pm

Who's strategy is market timing? not mine. The guys that run the mutual funds you invest in?

Jul 29, 2009 9:18 pm

No not yours, Jebediah.  All mutual funds suck, I know, I know.

Jul 29, 2009 10:10 pm

I did not say that.

Jul 31, 2009 10:07 pm

My best efforts account is up XX.XX% net of fees since Jan, 1.

  How did MF DCAing work for you?
Jul 31, 2009 10:11 pm

My best account is up 100% since Jan 1. Selling the 45 call every month on JPM stock.

Jul 31, 2009 10:29 pm

My best account is up 140% buying BAC at $5/share lol

Jul 31, 2009 10:52 pm

You have me beat !!

Jul 31, 2009 11:04 pm
Gaddock:

[quote=Ron 14]I am not going to change my philosophy because some guy has 2mil and another guy has 250k. Obviously every investors needs are different and I do use real estate, commodities, and bonds in portfolios, but long equity positions are the core.



I hear you. A foundation was recently referred to me and I put together a plan that was in-line with a rather large sum of $$ in it. These people were very VERY sharp. If I would have suggested putting it into mutual funds I would not have the account. There is a GIANT difference between a $250k, where a MF may be appropriate and a 2 million account where IMHO they are not. They are simply another layer of fees to pay, not to mention you don’t really know what they are buying and selling real time and if there is style drift you don’t know it until after the fact. It seems to me that you have no accredited investor accounts or your tune would be a bit different.



BUT what ever blows up your skirt.[/quote]



Can you give us a general idea what makes up an account of this size since you are not using funds… percentages (23% options, 18% etfs, 26% individual stocks…etc) don’t need actual holdings
Aug 1, 2009 12:22 am

I’ve given out bits and pieces of info that if you searched you could find your answer. If you want detail on this account PM me.

  As for the account I spoke of above "best efforts". It's one of my largest accounts that I've taken hundreds of positions in it this year. It's not a small lucky account. Its an endowment account that has been giving me lots of referrals. It's one of the accounts that gets my greatest attention and best effort. They are paying full boat transactional to insure they get just that. Very sharp people that are interested in net gains not fees.
Aug 1, 2009 2:15 am

Hundreds of positions? So what 200 positions to get to 50% ? .25% gain a position ?