Dirk Diggler:

That's about the most retarded thing I've heard in a long time

One product. If sold outside of a plan, it "always" heads south. If it is sold as part of a plan, it causes fewer headaches. Can a plan make something that always heads south, not head south? How do you explain the products that I've sold, with no plan, that haven't gone south?

Doberman is retarded for saying it and you're retarded for not seeing that Doberman is retarded.

------------------------------------------

My statement that any investment always heads south, was meant to be tongue-in-cheek. It's obvious Dirk hasn't been in the business very long and still doesn't know how to read people. Hey Dirk, if you know of an investment that NEVER heads south, I'm sure the boards would love to know about it. And hey, I'm talking the last 30 years or so, not the couple of months you've been in the business.

Ok Dirk, let me draw you a picture so you can understand what I'm saying: Let's say you have 5 asset classes A, B, C, D, & E and your client (Joe) is invested in all five. (Are you with me so far?) And the purpose of investing this way is to reduce risk and improve returns (financial plan). (Still with me?) Ok, let's say asset class A drops by 15% one year. Well, Joe still has asset classes B thru E to pull-up the loss by A, plus Joe was educated about the benefits of asset allocation initially, so he knows to expect this sort of thing. VERSUS another client (Bob) who was only sold asset class A. Now Dirk, who do you think you're going to get the ACAT from first, Joe or Bob? 

Based on Dirk's statement, I believe he has a bunch of single investment clients, who will be acating him when the economic **** hits the fan. And mark my words on this, IT WILL HIT THE FAN!

Alas, Dirk's youthful inexperience is quite obvious when he resorts to name calling when confronted with an issue he knows little or nothing about. Agree or disagree, but in any case, you need to grow up and respond like an adult. ( I can see Dirk now, pitching a prospect that his current broker is "retarded".) 

I wish I had Dirk's client list.

Doberman,

If you have money in all asset classes, you are destined to own the worst performing asset class. Does that make you proud? Are you with me so far?

My clients were up 20-23%, net, in 2005. Still with me? Stay with me, now. How much do you think I had in the worst performing asset classes? Humor me with an answer, ok?

See if you can keep up with me, on this...I didn't prepare a financial plan to accomplish this. Try to follow this...my clients would rather have what they have than your little plan. Are you with me?

Hey Dirk, keep that attitude about being a "stockbroker wizard" and we'll be reading about you being "fined and banned from the business" on Bill Singer's website.

So Dirk, how did your clients do in 2000-2002? Oh, that's right, you weren't even in the business then. Geesh!!

Now, hush and let the adults talk!

[quote=doberman]

Hey Dirk, keep that attitude about being a "stockbroker wizard" and we'll be reading about you being "fined and banned from the business" on Bill Singer's website.

So Dirk, how did your clients do in 2000-2002? Oh, that's right, you weren't even in the business then. Geesh!!

Now, hush and let the adults talk!

[/quote]

Been in business since late 1999.  

2000 +4.8%

2001 -2.2%

2002 -12.2%

Are you with me? I doubt it.

Dirk,

Your way to arrogant, chill.  So your telling me that you think you will be able to consistently switch asset classes and not burn your clients or miss returns by being underweighted in the asset class that outperforms?  I am not criticizing, however, I know this is simply not possible.

Please share your strategy for determing which asset class is going to outperform.  How would you invest 100K for 2006?  Humor me. 

[quote=bankrep1]

Dirk,

Your way to arrogant, chill.  So your telling me that you think you will be able to consistently switch asset classes and not burn your clients or miss returns by being underweighted in the asset class that outperforms?  I am not criticizing, however, I know this is simply not possible.

Please share your strategy for determing which asset class is going to outperform.  How would you invest 100K for 2006?  Humor me. 

[/quote]

It's a waste of time to explain it to you. You're a bank broker. You can't do what I do. Suffice it to say that I don't invest in asset classes for the sake of investing in asset classes. They are not relevant to what I do.

Dirk,

Humor me.  How would you invest 100K for 2006.  I have the same licenses you have and probably a few more considering you didn't even know about the Merril rule.  I am sure I will understand.  If not someone else here will explain it I am sure. 

Are you using portable alpha or some form of technical analysis.  Humor me, since your strategy does not involve asset class specifically where are you placing money for 2006?

I am amazed at the amount of posts some of you manage to put up.  I mean I have been pretty active here lately, but most of my posts are at night.  I log on from one day to the next and a discussion I was involved in has morphed to a totally different topic 10 pages later.

------------------------

bankrep1--see your post above; also note that the topic at hand is someone enterting the business wanting advice re: UBS vs. SB.  I believe you're contributing to the "morphing" w/your debate on asset allocation/timing.

Jayhawk--I don't think choosing between the two firms will determine your fate; as many people here will tell you, the local situation is far more important.  But primarily your skills, determination, common sense, persistence, luck, prior contacts, yada yada yada will determine the end of the story.

[quote=bankrep1]

Dirk,

Humor me.  How would you invest 100K for 2006.  I have the same licenses you have and probably a few more considering you didn't even know about the Merril rule.  I am sure I will understand.  If not someone else here will explain it I am sure. 

Are you using portable alpha or some form of technical analysis.  Humor me, since your strategy does not involve asset class specifically where are you placing money for 2006?

[/quote]

It's not a license thing. If you're a bank rep, I'm sure you are licensed to do everything I do. You just aren't ALLOWED to do what I do. You've overestimated my level of interest in humoring you. I'll share with you, in private, for $20,000. It's a waste of your money, since you can't  use it anyway.

I hope you get to work on time, tomorrow, employee boy.

Cowboy good call, it is nighttime.  I will start a new thread on the topic.  See Dirk…Full of shizt

[quote=bankrep1]Cowboy good call, it is nighttime.  I will start a new thread on the topic.  See Dirk...Full of shizt[/quote]

Why are you obsessed with me? That's kind of gay, don't you think?

Go get in your jammies, so you can go to your cubicle in the bank, wide-eyed and bushy-tailed, and get a haircut before your 37% payout.

[quote=bankrep1] Smith Barney is a broker/dealer dabbling in the investment advisory business by offer fee based advice.  [/quote]

You're confusing fee in lieu of commission accounts with discretionary accounts like SMAs. Firms like SB do both. BTW, the FPA (of which I am a member) lost in their fight with the SEC for good reason. They essentially wanted brokerages governed by two sets of rules while they were happy to be governed by the one set that covers themselves now.<?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

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

Can a plan make something that always heads south, not head south? How do you explain the products that I've sold, with no plan, that haven't gone south?

[/quote]

Can you name “something” that always goes south?

[quote=Dirk Diggler]

If you have money in all asset classes, you are destined to own the worst performing asset class.

[/quote]

Can you tell us how you know, in advance, what will be the worst performing sector and how you avoid it?

 [quote=Dirk Diggler]

Been in business since late 1999.  

[/quote]

Lol…

[quote=Dirk Diggler]

2000 +4.8%

2001 -2.2%

2002 -12.2%

[/quote]

Say, if you avoid the worst sector, as you claim, how did you lose money in 2001 and 2002?

[quote=Dirk Diggler]

It's not a license thing. If you're a bank rep, I'm sure you are licensed to do everything I do. You just aren't ALLOWED to do what I do.

[/quote]

So he has the same licenses as you, but can’t do what you do. Care to explain it to us all? I mean, it isn’t as if I’m losing sleep wondering what a new guy to the business is doing that’s caused him relatively low returns (roughly up less than 10% cumulative since 2000 by the numbers you provided), but I am curious how you’ll spin this next. If a bank broker can’t do what you do, who can?

[quote=Dirk Diggler]

Why are you obsessed with me? That's kind of gay, don't you think?

 [/quote]

Anyone else here notice the quick refuge to the ‘you’re gay” thing? Sounds familiar, doesn’t it? Also sounds like someone in denial, but that’s a subject for another thread.

[quote=doberman]Dirk Diggler:

That's about the most retarded thing I've heard in a long time

One product. If sold outside of a plan, it "always" heads south. If it is sold as part of a plan, it causes fewer headaches. Can a plan make something that always heads south, not head south? How do you explain the products that I've sold, with no plan, that haven't gone south?

Doberman is retarded for saying it and you're retarded for not seeing that Doberman is retarded.

------------------------------------------

My statement that any investment always heads south, was meant to be tongue-in-cheek. It's obvious Dirk hasn't been in the business very long and still doesn't know how to read people. Hey Dirk, if you know of an investment that NEVER heads south, I'm sure the boards would love to know about it. And hey, I'm talking the last 30 years or so, not the couple of months you've been in the business.

Ok Dirk, let me draw you a picture so you can understand what I'm saying: Let's say you have 5 asset classes A, B, C, D, & E and your client (Joe) is invested in all five. (Are you with me so far?) And the purpose of investing this way is to reduce risk and improve returns (financial plan). (Still with me?) Ok, let's say asset class A drops by 15% one year. Well, Joe still has asset classes B thru E to pull-up the loss by A, plus Joe was educated about the benefits of asset allocation initially, so he knows to expect this sort of thing. VERSUS another client (Bob) who was only sold asset class A. Now Dirk, who do you think you're going to get the ACAT from first, Joe or Bob? 

Based on Dirk's statement, I believe he has a bunch of single investment clients, who will be acating him when the economic **** hits the fan. And mark my words on this, IT WILL HIT THE FAN!

Alas, Dirk's youthful inexperience is quite obvious when he resorts to name calling when confronted with an issue he knows little or nothing about. Agree or disagree, but in any case, you need to grow up and respond like an adult. ( I can see Dirk now, pitching a prospect that his current broker is "retarded".) 

I wish I had Dirk's client list.

[/quote]

Selling someone "an" investment without educating them as to what that investment's function in the overall plan is asking for an unhappy client when the investment doesn't perform to expectations.   It is not "retarded" (nanny nanny boo boo).  This doesn't mean that there needs to be a formal written expensive plan that we can reference page 43 sub paragraph b.  If the client has faith and a vision of the future, blips in the portfolio are much easier overlooked than if the investment stands alone. Instilling faith or a vision in the future will keep the client from bailing on you. It is our job to be "advisors" and not to be the used car salesmen/women of the financial industry. We need to help our clients create a plan, educate them on how to stick to the plan and be able to adjust it if needs arise AND let the client know we are working WITH them to accomplish something.

And to change the subject again to something wildly off topic.  I think this lack of faith in anything and inability to envision beyond yesterday or tomorrow is the big problem with the secular left.  This leads to their determination to create defeat in our foreign policy and bring us to economic disaster.  The same issues cause our clients (to whom we haven't given the inner fortitude to be able to weather difficult times) to give up at the worst of times. 

Don't bother responding to this political observation as I won't either.

Golly! Was I supposed to explain what the investments do and why we’re doing it? I’m so glad I met you guys. I’ll give it a try. Thanks.

http://img412.imageshack.us/img412/2883/bozo20pd0ov.jpg

[quote=babbling looney]

http://img412.imageshack.us/img412/2883/bozo20pd0ov.jpg

[/quote]

You're pretty funny for a woman.

Dirk, quoting your clients' rates of return (good or bad) are meaningless unless they're applicable to clients with the same investment objective, time horizon, risk tolerance, liquidity needs, & tax status  (or fit one segment of a client's overall asset allocation). 

For example, for certain of my clients' equity exposure I could have used my b/d's "analysts best picks" & they would have gotten about 22% last year and averaged about 19% over the last 5 years (before transaction costs).  But, that rate of return is only applicable to that one investment allocation, and that allocation was certainly not appropriate for all my clients.  It's not representative of my clients' overall rate of return unless all my clients were exactly the same, with that portfolio fitting their entire investment allocation (unlikely if not impossible).  So, I assume you have a very narrow niche of clients having the exact same investment objectives, etc., or you are only managing an isolated portion of your client's money, with other advisors handling the rest of their money.  Right?

Similarly, quoting rates of return for a particular asset class are only relevant when compared to an applicable money manager peer group or index.

So, while I understand you wouldn't want to divulge how you do what you do to obtain the rates of return you quoted, at least how about giving us the details of your client profile so that you can shed some validity to the absolute numbers you quote?  And, similarly, how about telling us something about your management style, etc. and how this relates to peer group managers and/or indices?  You wouldn't be divulging anything proprietary about what you do; it would just give some credence to the numbers you quoted as achieving for your "clients".

Dirk does not manage money he spends his time making up stories about managing money.  He is probably and IT guy or engineer who can’t wait to quit his crappy job because his boss treats him like dirt , but is not aloud because his wife won’t let him.

[quote=bankrep1]Dirk does not manage money he spends his time making up stories about managing money.  He is probably and IT guy or engineer who can't wait to quit his crappy job because his boss treats him like dirt , but is not aloud because his wife won't let him.[/quote]

You're right. I don't manage money. I place money. I get paid 7.5% of every dollar that I place. It's pretty easy with this track record.