My only post this week was a review of a great book:
Thinking Fast and Slow
Here are my short takes and some weekend reading:
Rob Carrick wrote an interesting piece on some young financial advisors who welcome unbundling of fees for financial advice because they hope it will drive bad advisors out of the market. The remarks from the Advocis president are funny. The claim that fewer investors will get financial advice presumes that all people with advisors are getting advice in the first place. Picking a few mutual funds is not proper financial advice.
Preet Banerjee interviews Barry Choi. In this podcast Barry tells the story of starting out with a financial advisor, having problems and dumping him, and even ending up in a confrontation with the advisor.
Big Cajun Man has a great diagram that compares pay-day loan businesses to loan sharks.
My Own Advisor has some thoughts on dumping your big-bank financial advisor.
Thanks for the inclusion, I wouldn't be surprised to see a lawsuit from Loan Sharks about Pay Day Loan places having an unfair monopoly. Have a great weekend.
ReplyDeleteSeems to be a big topic this week. For some more laughs have a look at some of the comments here:
ReplyDeletehttp://opinion.financialpost.com/2013/06/17/in-praise-of-mutual-fund-trailer-fees/
@Paul: I guess the best defense is good offense. If I'm to believe this argument, then all investors are best served to transfer more than half their wealth to advisors over their investing lifetimes.
DeleteThanks for the inclusion Michael. Enjoy the weekend.
ReplyDeleteMark