I Fired My Stock Broker Today.....

Honestly, it's been proven over and over again that paying 'financial professionals' to manage your money, just lowers your returns in the long run. Put your money is low cost ETFs/index funds and you'll beat 99% of actively managed funds over the long run.

 

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Except unless you spend time doing DD you won't properly asset allocate...or you'll try a balanced stock/bond portfolio which no longer works because bonds yield about 2% or so instead of the traditional 6%.

Not to mention poor market-timing from getting nervous at bottoms and exubberant at tops.

 

Some people do need it, but it is certainly a very bad move for people with a clue

 

With a constantly changing environment, I just dont have time to manage and
keep up with trends sad but true, just a very busy guy theses days.

 

<looks askance at @mpcusa's posting history>

 

I have dozens of associates from my time on Wall Street and managing money and working for various firms. I network with dozens of people who spend anywhere from 2-12 hours a day on their investments.

While most of us enjoy it, at a certain time and age many of us intend to just index or farm out the $$$ to fellow professionals. While managing one's own $$$ (or F&F) is nice and allows you to work from home and/or set your own hours....nobody wants to be in front of a PC with CNBC or Bloomberg TV or Fox BC running on the TV from 8 AM until 5 PM every trading day when they are in their 60's or 70's or 80's.

As a friend of mine said, "I spent all this time and made this money to enjoy my last years on Earth with my family and friends...not to drop dead studying P/E levels or cash flows up until the time they put me in a casket."

 

I am officially back in, just in time for the
market to drop....LOL