“A man must be big enough to admit his mistakes, smart enough to profit from them, and strong enough to correct them.”
John C. Maxwell
I often speak how I once was:
- A legend in my own mind
- Card-carrying member of the “Me, Myself and I” club
- Turning the “Ten Commandments” into the “Ten Suggestions”
I share about making and losing more than most make in a decade or a lifetime more than once; and the crippling battles with depression.
But for some still unknown reason, the least popular segment of my commentaries these last few years is when I speak to the public-at-large about what I concluded when it comes to investing and dealing with to so-called “professionals” in the financial services industry.
I’ve featured these “highly-charged’ opinions in my book, in this special report, and throughout the handful of media personnel who aren’t tied to the umbilical cord of Wall Street (a rare example of that is John Crudele and Drew Mariani).
NOW LISTEN UP!!!!!!
If there’s one factor more important than all others when it comes to the investment world, it’s this (and if you don’t fully grasp it and practice it in real life, you’re destined for losses IMHO):
NO ONE KNOWS THE FUTURE EXCEPT ALMIGHTY GOD!!!!!!!!!!!
This is why I can almost be certain that most financial plans done by any and all so-called financial advisors will not reach all or most of their intended goals because they all incorporate a strategy (or strategies) and/or product(s) that are extrapolate past performance to reach stated financial goal(s).
Buried in the legal disclaimer most investors never read or don’t comprehend, is the real truth that is many times watered down to be little more than the standard “past performance is no guarantee of future results”. And in case you want to know the other key reason most financial plans won’t reach their intended targets:
- No one (me, you or any human being) can consistently predict the future movement of the four factors that shall influence your plan than all others combined – interest rates, tax rates, inflation rates and rates of return.
If and when you’re ready to accept that the very best one can do is to make your Chevy run as efficient and effective as it can, versus the fantasy the financial services industry sells that they can turn your Chevy into a Rolls Royce (trust me, their chances of driving a Rolls is far greater than yours), you will be forever be like millions of other typical investors, chasing after a never-reachable “happy ending”.
I welcome you to learn more about our alternative to traditional financial planning that not only deals strictly in reality, but gives peace of mind especially during periods like now.
I SAVED THE BEST FOR LAST!
I’ve noted multiple times in recent times that I’m out of the Soothsayer racket. I’ve given many factors why, including the fact that about 80% of equity money managers can’t beat a simple low-cost index fund (85% when it comes to bond managers) and the 20% who do one year, almost never repeat the next (and notice how many hedgefund managers are blowing up now after some one-hit wonders of theirs led people to pour billions into their funds).
I urge, plead and if necessary, “BEG” you to read this article. If after doing so you still believe watching the “Talking Heads” on financial shows or the so-called “Market Strategist” of the firm your financial advisor is associated with is worth any of your precious time on earth – I wish you GOOD LUCK…YOU’RE GOING TO NEED IT!!!!