Raymond James Financial group in Brownwood.

Raymond James Financial group in Brownwood.

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  #11  
Old 04-04-2019, 02:48 PM
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Quote:
Originally Posted by manaboutown View Post
"But where are the customers' yachts?"

I sold mine.

Got tired of the...BOATT cycle.

Been giving thought to getting some tight white pants, a funky little hat, a couple of ponies...and one of them long croquet mallets.
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  #12  
Old 04-05-2019, 07:11 AM
petsetc petsetc is offline
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I feel obligated to post the following every time I see an investment advisor post.

Take time to read Paul Merriman’s 3 FREE ebooks.
1. First-Time Investor
2. 101 Investment Decisions
3. Get Smart or Get Screwed

Found at paulmerriman.com
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thanks for the comment on Merriman
  #13  
Old 04-05-2019, 06:39 PM
valuemkt valuemkt is offline
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Default thanks for the comment on Merriman

Quote:
Originally Posted by petsetc View Post
I feel obligated to post the following every time I see an investment advisor post.

Take time to read Paul Merriman’s 3 FREE ebooks.
1. First-Time Investor
2. 101 Investment Decisions
3. Get Smart or Get Screwed

Found at paulmerriman.com
I do a significant amount of reading regarding investments and investment strategy. I had never heard of merriman and a quick look at his web site shows a lot of interesting comments. I tried 2 well known investment firms following a corollary of " A person that represents himself in court has a fool for a client". Well, it didnt work for me, and I've developed a plan we are both comfortable with. I don;t pay for 95% of the limited trades I make, and save a boatload on advisory fees. But there's always something to learn .. I'll delve into Merriman a bit more and perhaps make some semi intelligent comments on what i find .. thanks again
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  #14  
Old 04-05-2019, 07:48 PM
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rjm1cc rjm1cc is offline
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Be sure to compare cost and very important, market performance over various markets for the type of investments they recommend.
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  #15  
Old 04-10-2019, 09:59 AM
tcxr750 tcxr750 is offline
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I’ve had my IRA with advisors on the Barrons list. Didn’t help during the Great Recession. My thought is to ask what has been the average client portfolio performance for the past (your choice) number of years. Then you’ll have something to compare against other advisors.
Would you buy a performance car if you couldn’t see the figures on how it performs?
If you get the response “my mother has her retirement money with me”....keep looking.
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  #16  
Old 04-10-2019, 10:15 AM
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Originally Posted by tcxr750 View Post
I’ve had my IRA with advisors on the Barrons list. Didn’t help during the Great Recession. My thought is to ask what has been the average client portfolio performance for the past (your choice) number of years. Then you’ll have something to compare against other advisors.
Would you buy a performance car if you couldn’t see the figures on how it performs?
If you get the response “my mother has her retirement money with me”....keep looking.
When I was in my 20's, I had a coworker who kept pushing the greatness of his financial advisor.

Being fairly new at investing, I decided to go in for a free consultation.

As I was sitting in the parking lot afterward, I saw the guy I had just talked to (and I admit, he 'sounded' great with lots of terminology I was clueless about and seemed to know what he was doing)...get in his car.

It was an old beater, but more importantly, was covered with dust & dirt...indicating to me he wasn't big on details.

A light bulb went off and made me think... "if this guy is so good, why does he look so broke?"

And yes, I also took into account that maybe he was really filthy rich and driving cheap cars (like Warren Buffett)...is one of the ways he was able to become wealthy.

It was his lack of taking care of what he had though...that tipped the scales for me.

Which made me think of Trevino's famous quote...on why he didn't have a golf coach.

Trevino's answer was basically (paraphrasing)... "because I haven't found one that can beat me."

So I decided then & there, I would educate myself as much as possible and at least then...I would be solely responsible for any failures/successes.

I've never looked back...and certainly don't regret my decision.
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  #17  
Old 04-10-2019, 11:11 AM
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I have also managed all my investments solely myself. My Barron's list/Raymond James guy won't oversee my investments until I am either unable to while alive or deceased. If I had an adult child that could handle it the stock bookie would not get the job, just saying...
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  #18  
Old 04-10-2019, 11:48 AM
retiredguy123 retiredguy123 is offline
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If financial advisors could really provide valuable investment advice, they would not be financial advisors. They would be billionaries. The first thing you should ask an advisor is to show you their own personal portfolio, and their total return over the last 10 years.
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  #19  
Old 04-10-2019, 11:54 AM
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I read a quote somewhere of a man saying something like "I sent two children to college with my investment portfolio, my broker's!'.
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  #20  
Old 04-13-2019, 11:18 AM
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l2ridehd l2ridehd is online now
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It is so easy to do yourself with today's investment options that I would never pay anyone to do it. Just follow a simple model like the Yale University model. Use low cost index funds. I have done my own for the past 40 years and have averaged 8.34% annual return with a VERY low risk portfolio. Someone told me that that is about the same as the S&P 500, and yes it did, but at a much higher risk profile. I use Vanguard, but Schwab or Fidelity also have low expense index funds.

Google the Yale model and just follow it using ETF's or index funds with low expense ratios. They manage the largest endowment fund around very successfully using just low cost index funds.

So never pay anyone for things you can do with better results and lower cost. Raymond James is fairly expensive and will impact your returns. Returns will be lower or risk will be higher to achieve what you can do yourself.
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Last edited by l2ridehd; 04-13-2019 at 11:33 AM.
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