Media as your advisor?
I do not always respond to emails and comments on my blog. Some are too obvious and some queries are portfolio management queries. Typically like ‘I have invested in……..’ is it a good investment? Is it a good time to average? is it a good time to sell?….
frankly the answer to all this is ‘I do not know’. I have no clue who you are, why you bought, who is your adviser, what you want from the scheme, will you listen to me or are you doing time pass,……so the easiest thing to do is to ignore them. Sorry, but that is what I do.
However some people say ‘Mr. A….said so on television..channel A…magazine B…..etc. etc.’ In such cases too I ignore the messenger, but the message is loud and clear. If you believe one expert you should listen to him/ her. Asking somebody else is suicidal.
You should also realise that the media is full of time pass articles which are completely useless for you to take action. Useless completely useless.
It is like me telling you….’When the index was 21000, you should have sold and booked profit’. Or saying ‘If you are in the equity markets, you should be active’ or ‘Equity returns in the decade where it went from 100 to 4200 ..but next decade it did not go up 40 times’ or ‘from 1992 to 2002 you got no returns in the equity market’ – ALL COMPLETELY TRUE and totally useless statements. Believe me, these are not from an adviser to a client. These are pages filled for the advertiser’s ad to be accomodated. However this is what you will get…free advice is always expensive, right?
naveen
hi subra, so true.people are addicted to business channels to get these news. As you mentioned the person speaking or writing will only accomadate for ads. Conflict free advice is rare and costs , its better people understand it earlier the better.
Suresh
thanks for carrying the torch! How ever most buyers especially in our country are so sold on the idea of ‘something for nothing’ that they will always expect free advise. And pay dearly.
Krish
It is a bit like the “Chicken and Egg” theory… Unless you offer a couple of brief recos and the potential client uses it to gain advantage, he’s not going to buy into you or agree to hire you as his adviser…And you – won’t offer advice for him to feel your skill levels and test your claim to expertise…
Clients always have a feeling “If the wealth manager is smart enough, why is he managing other people’s wealth and not his own…”