Now that's funny!
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[quote=bspears] Great spin…its the clients fault. Couldn’t be the 8th new rep in the office with zero experience…giving great advice. Actually Dave Ramsey promotes 25% in G, G/I, Int, AG. He doesn’t like cd’s, VA’s, EIA’s or bonds. He likes A share mutual funds, not fee based accts. He likes his ELP’s to be from the Indy world.
I don't know if I would call him a schmuck, has 250 employees, over 400 stations and on Fox business. Christian based message. I'd say he is a very bright business person. What have you done lately?[/quote] Maybe schmuck was the wrong word.. Hack... He is simply a reincarnate(christian one) of Suze Orman, Cramer and everyone else who goes on tv and recommends something without any liability or background on the person.. Sure generalities aren't always bad and his debt strategy(nothing new) is fine..I think this past downturn has made me re examine the strategies I had placed in portfolios. Sometimes the best strategies are the boring ones. If you listen and read anything Dave talks about, its about getting out of debt and staying out of debt. Have 3-6 months of living expenses saved up, put 15% of gross into Roth accounts. If you have more to invest after that, make contributions to kids college…more…pay off house early. Fully out of debt…invest in mutual funds and real estate.
Just think if half of the adult households had followed this, where would be now?? I doubt heading down the socialist path, unless thats what you would like.Bspears all I care about is the VanKampen pens and Franklin Templeton mugs and American Funds luggage tags. Just keep them coming wholesalers !!! What 3 pack do you have for me today with a doctored time frame !! I need them to sell on Ebay to supplement my income because I am just not smart enough to time the market like you. I didnt know we would go from 11 to 14 to 7 in a 3 year period. Im just not that bright, oh well.
I like the American Funds roller pens...but they don't have those anymore. So Ron...what do you know? Why would someone do business with you if you can't understand what is going on around you. Hell even if you got clients moved into AF money markets in November..you would still look like a hero right now.
I know I can’t time the markets. I know that this time is not different. I know that buy and hold is not dead. I know that if you DCA people back in right now and we go to 5k or 10k you will look just as bad as a buy and hold guy because your clients will wonder why you didn’t make the right call. Where is my ICA mountain chart ?