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1930s?

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Jul 2, 2009 9:17 pm

Kudlowfan

Joined: 2009-04-22Offline

Is this what is what like to be an advisor during the 30s?  This sucks.

Jul 2, 2009 9:32 pm

Spaceman Spiff

Joined: 2006-08-08Offline

What sucks?  The market or the opportunity?  You can either whine about how bad the market is or focus on bringing more clients in because the market sucks and FAs have buried their heads in the sand (or specific parts of their anatomy) as far as service goes.  Money is moving, you need to get your piece of it. 

Read your own tagline and make it work for you.  
Jul 2, 2009 9:45 pm

jamesbond

Joined: 2005-03-22Offline

best place to be right now is baa corps. Be a buyer. 

Jul 2, 2009 10:24 pm

anonymous

Joined: 2005-09-29Offline

[quote=Kudlowfan]Is this what is what like to be an advisor during the 30s?  This sucks.[/quote]


It wouldn’t suck if you sold index annuities.

Jul 3, 2009 12:22 am

Kudlowfan

Joined: 2009-04-22Offline

Thanks, I needed that.  Yes Baa corporates are good right now.

Jul 3, 2009 12:29 am

B24

Joined: 2008-07-08Offline
Kudlowfan:

Is this what is what like to be an advisor during the 30s? This sucks.



It's more like the 70's, but the clients are too well-educated now due to the internet.
Jul 3, 2009 1:18 am

Kudlowfan

Joined: 2009-04-22Offline

73-74 bear market was a 45% drop over about 1.5 years.  We had a tripling of oil prices and bad inflation  but we didn't have high unemployment and a big contraction in GDP.  Unemployment didn't get too bad until 80-81 but then the market wasn't as bad.  Right now I think GDP has contracted about 5% TTM.

The media is making our job hard.  It's 24/7 the sky is falling.  Man I'm wore out.  I've got to continue preaching the gospel right now for the long term investor stocks are a steal.