Quote:
Originally Posted by MDFlyer
Losing money is not a matter of your outlook on where your money went but a matter of it gone and may never be coming back. Yes, you did lose money, $130,000 less the few thousand you may have gotten back from the dividends over the years. The losses you are experiencing now may never be recovered. From what you have said, Michael L Whitaker and Associates did exactly what you instructed him to do. He invested your money in high-risk bonds and you lost. For most of the rest of us he did not act as a fiduciary and against our wishes put us in high-risk investments. This does make you wrong or us wrong it just makes Michael L Whitaker and Associates wrong.
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Didnt you ever review your portfolio and question what and why he invested in these bonds and other securities. Or did you blindly give him money and tell him to invest only in safer investments?