DUMBEST ARTICLE OF THE DAY

CNBC has this article on their site titled "Panicky Investors Making Some Bone-headed Moves". The article was so dumb that it prompted me to start a new feature: Dumbest Article of the Day.

So basically the gist of the article is that investors are threatening to pull their money out but financial advisors are desperately trying to hold onto them. The author thinks that investors wishing to sell are making a bone-headed move. You know, if the financial advisor actually sold a long time ago when the market broke down below the 200-day MA on January 2, they wouldn't even be having this trouble.

Here's the problem: All those financial advisors and money managers have all been taught from the same school of thinking which results in the same....results. I can even tell you that perhaps 95% or more of these "advisors" do not know what technical analysis is yet they have the nerve to make recommendations in stocks dropping like a rock. If they did know, they wouldn't be fighting so hard to keep their assets. The advisors look like the bone-heads to me.

Here are some comments from the article with my response:

“If the market doesn’t recover, I may have a different story to tell” about more rash moves, he (Jeff Sprowles) added.

LOL...if the market doesn't recover. That tells me that you have no clue about how bear markets work. Keep hoping pal, maybe they'll recover for ya.

This lady should keep her mouth shut:

“As always in turbulent times, we are seeing clients who want to go to cash and ‘wait it out’ then jump back in later when times are less scary,” says Elaine Scoggins, a financial advisor with Merriam Berkman Next, in Seattle, Washington. But "this I exactly how fortunes are lost."

Elaine, being in cash is probably better than leaving you my money. Perhaps, if you recognized trouble before hand, you could have gotten your clients out. What are these people pay you for? Just because you need your fees doesn't mean that you have to mislead investors. I think you're doing it unintentionally, because you have zero clue whats going on.

Check this one:

Scoggins says it helps to remind clients thinking of bailing out that markets will rebound “like a rubber band’" once they have bottomed out.

LOL. Stupid. I hope she doesn't think the bottom is "right around the corner". How do people actually fall for the stuff that these people pitch? That's how uneducated the American public is on the market.

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