April 27, 2015
The market double whammy investors fear most
Apart from the investment markets, the rising cost of health care continues to be one of the chief concerns of middle-class Americans, and many people are looking to their financial advisors for help.
I'm trying to figure out what kind of help the financial advisors can offer.
1. I know you are concerned, so I will lower my fees. I wouldn't want you to have to choose between financial advice and medical advice someday. It's going to be painful for me though. The fees are needed to pay my health care and the moorage expenses for my yacht. You, me, your money, and my advice are kind of in this together. We're only going to be as strong as our weakest link.
2. You *need* more income. Might I suggest boosting your exposure to highly speculative investments on the hope that they pay off. Now that the stock market has tripled off the bottom and the Fed has permanently put an end to recessions, there has never been a better time to embrace extra risk.
3. Many financial advisors might tell you to stop buying so much coffee at Starbucks and divert some of it to health care expenses instead. Not me. You can't afford to stop. Starbucks is your top stock holding. The more you drink the wealthier you and I become.
Valuations: Maybe I am Crazy - *Relative vs. Absolute Value* As I watch valuations on stocks soar higher and higher into the stratosphere, I keep asking "where is the value?" The proble...
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