Who ever follows the “Top-Ranked” Financial Advisors on the radio?

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Ed 2
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Who ever follows the “Top-Ranked” Financial Advisors on the radio?

Post by Ed 2 »

Okay. For example,I was religiously listening Ric Edelman for years. I like the way he delivers the basic understanding how to invest and invest for long term. Lately he was kind of started loosing his grip on “stay the course “ stile and I noticed not for the first time he does it....Back in March he called the market drop “ the greatest buying opportunity of all time “ . I wouldn’t disagree , somewhat. Now he switched like Mr. Cramer into scaremongering and calling recently market recovery as “ possible bear market dead cat bounce “ . I never been taking seriously what all this guys say on radio or TV. I am just listening for entertainment. What are your thoughts on how they really influence the retail investors?
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Re: Who ever follows the “Top-Ranked” Financial Advisors on the radio?

Post by Trader Joe »

Ed 2 wrote: Sun Jun 14, 2020 6:06 pm Okay. For example,I was religiously listening Ric Edelman for years. I like the way he delivers the basic understanding how to invest and invest for long term. Lately he was kind of started loosing his grip on “stay the course “ stile and I noticed not for the first time he does it....Back in March he called the market drop “ the greatest buying opportunity of all time “ . I wouldn’t disagree , somewhat. Now he switched like Mr. Cramer into scaremongering and calling recently market recovery as “ possible bear market dead cat bounce “ . I never been taking seriously what all this guys say on radio or TV. I am just listening for entertainment. What are your thoughts on how they really influence the retail investors?
For myself, I do not follow any "financial advisors", either on the radio or otherwise.

I tune out all of that noise and I am very happy with my investment results.
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Re: Who ever follows the “Top-Ranked” Financial Advisors on the radio?

Post by retired@50 »

Ed 2 wrote: Sun Jun 14, 2020 6:06 pm What are your thoughts on how they really influence the retail investors?
I think they influence those that don't know better. Other listeners may just use it as entertainment and poke holes in the shoddy logic.

I think the better way to absorb and digest financial information is by reading books. I've got a library card and I've read dozens of books about retirement, investing, behavioral finance, etc. My recommendation is to read multiple authors if you're seeking a solid understanding. If you want entertainment, feel free to listen, as long as it doesn't later involve you logging in to your financial accounts and placing a trade.

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Re: Who ever follows the “Top-Ranked” Financial Advisors on the radio?

Post by Ed 2 »

Trader Joe wrote: Sun Jun 14, 2020 6:39 pm
Ed 2 wrote: Sun Jun 14, 2020 6:06 pm Okay. For example,I was religiously listening Ric Edelman for years. I like the way he delivers the basic understanding how to invest and invest for long term. Lately he was kind of started loosing his grip on “stay the course “ stile and I noticed not for the first time he does it....Back in March he called the market drop “ the greatest buying opportunity of all time “ . I wouldn’t disagree , somewhat. Now he switched like Mr. Cramer into scaremongering and calling recently market recovery as “ possible bear market dead cat bounce “ . I never been taking seriously what all this guys say on radio or TV. I am just listening for entertainment. What are your thoughts on how they really influence the retail investors?
For myself, I do not follow any "financial advisors", either on the radio or otherwise.

I tune out all of that noise and I am very happy with my investment results.
+1
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Re: Who ever follows the “Top-Ranked” Financial Advisors on the radio?

Post by Stinky »

Ric Edelman’s show is an extended-length commercial for his advisory service.

I’m not sure what his core investing beliefs are, beyond trying to get you to place assets with his firm.
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Ed 2
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Re: Who ever follows the “Top-Ranked” Financial Advisors on the radio?

Post by Ed 2 »

retired@50 wrote: Sun Jun 14, 2020 6:45 pm
Ed 2 wrote: Sun Jun 14, 2020 6:06 pm What are your thoughts on how they really influence the retail investors?
I think they influence those that don't know better. Other listeners may just use it as entertainment and poke holes in the shoddy logic.

I think the better way to absorb and digest financial information is by reading books. I've got a library card and I've read dozens of books about retirement, investing, behavioral finance, etc. My recommendation is to read multiple authors if you're seeking a solid understanding. If you want entertainment, feel free to listen, as long as it doesn't later involve you logging in to your financial accounts and placing a trade.

Regards,
I belong to those who “ poke holes in the shoddy logic“. The only who I ever followed is Jack. Thank you.
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Re: Who ever follows the “Top-Ranked” Financial Advisors on the radio?

Post by Ed 2 »

Stinky wrote: Sun Jun 14, 2020 6:48 pm Ric Edelman’s show is an extended-length commercial for his advisory service.

I’m not sure what his core investing beliefs are, beyond trying to get you to place assets with his firm.
Of course I know that. Just trying to reinforce my belief amongst those who can post for years about index funds))))
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Re: Who ever follows the “Top-Ranked” Financial Advisors on the radio?

Post by cp73 »

I do enjoy listening to the financial advisors on the radio. However, I really wouldn't invest with them or follow all their advice. I mostly like to listen to Ken Moraif of Money Matters. He also does a weekly podcast. He targets his advice to people in or close to retirement. He is a market timer. His philsophy is that he would rather get you out of the market and miss the big drop and then not return into its safe to get back in. He says his clients would rather miss out on the big drop then miss out on some gains. If your in retirement you know how gut wrenching the fall can be especially when no one knows the bottom.I do like that philosophy, its just too bad the most the time, timing just doesn't work right and you end up losing. On March 10, 2020 he told his clients to sell all stocks. The Dow was at 25,018. The market was down about 20% from its high when he made that call. Last week on June 4 he told his clients to buy back 10%. The market closed at 26,269. They are still sitting 90% in cash. He believes there is still more downside risk in the market rather than upside. He thinks they will be 90% in cash for some time. He also mentioned that he thought since the Fed since no rate increases until (?? a year or so) that its safe to take the cash and by some bonds. He didn't say what type of bonds. There is a website that does a nice job of tracking all Ken's call since about 2008. So yes I do like listening to any type of financial advice, especially in podcast form. I also enjoy listening to Ken Merriman.
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Re: Who ever follows the “Top-Ranked” Financial Advisors on the radio?

Post by UpperNwGuy »

I distrust all of those guys, so I never listen to any of them.
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Re: Who ever follows the “Top-Ranked” Financial Advisors on the radio?

Post by Register44 »

Best investment show I ever listened to was the late Harry Browne.
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Re: Who ever follows the “Top-Ranked” Financial Advisors on the radio?

Post by whodidntante »

cp73 wrote: Sun Jun 14, 2020 10:01 pm I do enjoy listening to the financial advisors on the radio. However, I really wouldn't invest with them or follow all their advice. I mostly like to listen to Ken Moraif of Money Matters. He also does a weekly podcast. He targets his advice to people in or close to retirement. He is a market timer. His philsophy is that he would rather get you out of the market and miss the big drop and then not return into its safe to get back in. He says his clients would rather miss out on the big drop then miss out on some gains. If your in retirement you know how gut wrenching the fall can be especially when no one knows the bottom.I do like that philosophy, its just too bad the most the time, timing just doesn't work right and you end up losing. On March 10, 2020 he told his clients to sell all stocks. The Dow was at 25,018. The market was down about 20% from its high when he made that call. Last week on June 4 he told his clients to buy back 10%. The market closed at 26,269. They are still sitting 90% in cash. He believes there is still more downside risk in the market rather than upside. He thinks they will be 90% in cash for some time. He also mentioned that he thought since the Fed since no rate increases until (?? a year or so) that its safe to take the cash and by some bonds. He didn't say what type of bonds. There is a website that does a nice job of tracking all Ken's call since about 2008. So yes I do like listening to any type of financial advice, especially in podcast form. I also enjoy listening to Ken Merriman.
Thanks, I'll give Ken Moraif a listen. He's going to need to make a seriously compelling argument to get this gambler to sell down to 10% stocks. Especially considering my disdain for low-yielding bonds. He'll either convince me or entertain me. If he convinces me you should all be concerned. :twisted:
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Re: Who ever follows the “Top-Ranked” Financial Advisors on the radio?

Post by whodidntante »

UpperNwGuy wrote: Sun Jun 14, 2020 10:25 pm I distrust all of those guys, so I never listen to any of them.
You can listen to someone you disagree with without getting "infected." Echo chambers aren't interesting IMO.
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Re: Who ever follows the “Top-Ranked” Financial Advisors on the radio?

Post by UpperNwGuy »

whodidntante wrote: Sun Jun 14, 2020 10:39 pm
UpperNwGuy wrote: Sun Jun 14, 2020 10:25 pm I distrust all of those guys, so I never listen to any of them.
You can listen to someone you disagree with without getting "infected." Echo chambers aren't interesting IMO.
I get to read plenty of stuff I disagree with right here on bogleheads. No need to seek out radio advisors who are often salesmen as well.
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Re: Who ever follows the “Top-Ranked” Financial Advisors on the radio?

Post by firebirdparts »

Honestly I didn't know there were financial advisors on the radio.
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Re: Who ever follows the “Top-Ranked” Financial Advisors on the radio?

Post by Helo80 »

Ric Edelman's advice isn't half bad, though his callers are way too polished to be straight off the street listening to his radio show.

If I'm not mistaken, he's always giving his "free", $800 financial review of your portfolio to people who call by Monday or Tuesday night at midnight.... because spots are super limited.
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Re: Who ever follows the “Top-Ranked” Financial Advisors on the radio?

Post by jsiulinski »

I really enjoy listening to “THe Retirement and IRA Show” podcast. Chris and Jim on the show really know there stuff, and you can tell have the clients/listeners best interest in mind. Jim (the owner) often goes off on tirades about how the AUM model is bogus and creates many conflicts of interest. The show also makes many references to Bogleheads, whom they joke are the only people that listen to their show. They are a fee only firm and seem to charge very reasonable rates for tax planning, retirement planning, etc.

Their retirement strategy differs substantially from a Standard withdrawal rate. They prefer to cover all required expenses (Housing, healthcare, transportation, etc) with secure income (Pension, SS, annuity, etc).

Anyway, I have really learned a lot from them and encourage others to listen to the show if they want to learn more about retirement topics.
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Re: Who ever follows the “Top-Ranked” Financial Advisors on the radio?

Post by KSActuary »

Gotta pay for the Financial Engines purchase.
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Re: Who ever follows the “Top-Ranked” Financial Advisors on the radio?

Post by Jack FFR1846 »

KSActuary wrote: Mon Jun 15, 2020 10:33 am Gotta pay for the Financial Engines purchase.
....and the 2 hour Sunday commercial every week.

I listen to Ric and locally to Paul and Larry Welch on Saturday night. Typically only if I'm in the garage or driving, however. When home, I watch old Seinfeld episodes or tune in to American Pickers. I consider all of these to be entertainment and none of them affect my investing.
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Re: Who ever follows the “Top-Ranked” Financial Advisors on the radio?

Post by peseta »

Jack FFR1846 wrote: Mon Jun 15, 2020 10:47 am ....and the 2 hour Sunday commercial every week.

I listen to Ric and locally to Paul and Larry Welch on Saturday night. Typically only if I'm in the garage or driving, however. When home, I watch old Seinfeld episodes or tune in to American Pickers. I consider all of these to be entertainment and none of them affect my investing.
His show used to be much better years ago, especially when it was a (real) call-in local show on WMAL in DC. Now, his show is one long commercial. Sad, I miss the days of the old Ric and Bob Brinker, I learned a lot from them before discovering this wonderful place on the interwebs.
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Re: Who ever follows the “Top-Ranked” Financial Advisors on the radio?

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Re: Who ever follows the “Top-Ranked” Financial Advisors on the radio?

Post by nisiprius »

Helo80 wrote: Mon Jun 15, 2020 8:54 am...Ric Edelman's advice isn't half bad...
A lot of them aren't half bad, but often they will have something distinctly weird or oddball and probably self-serving. An orange that is only half moldy is no treat. And if you are savvy enough to identify and ignore the bad advice, you don't need the advice in the first place.

It is pretty hard to forgive Ric Edelman for--there is no word for it but lying--in 2011, when he said that you needed to add 1.4% to Vanguard's expense ratios to account for hidden fees: Ric Edelman Accuses Vanguard of Hiding Fees. Allan Roth actually got Edelman to remove the false statement from the podcast version of his show... but in 2013, he again accused Vanguard of hiding fees.
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Re: Who ever follows the “Top-Ranked” Financial Advisors on the radio?

Post by Random Musings »

Back in the late 30's, my Grandfather and his family would sit around their RCA radio and dial it to the KDKA radio station, clear channel 980 khz. After the long running Uncle Ed Shaughency show and The Shadow, he would tuck the kids in bed, light his pipe, and listen attentively to the Benjamin Graham financial hour. Ah, the good ol' days.

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Re: Who ever follows the “Top-Ranked” Financial Advisors on the radio?

Post by Skeeter1 »

I drank the Ric Edelman cool-aid for a while. Similar to many, his smooth talking presentation and advice made sense to this uninformed , mis-educated
individual. So, i jumped on the band wagon. He sold all of my vanguard stock to put me in his cookie cutter portfolio that he said was right for me. Short version, He put my 4 accounts into 20-25 different stocks/etf's. What a disaster.
I fired him after being on BH only 4 months!
I am now down to only 5 ETF's and thrilled.
His advise on the radio is good and interesting, but do not invest your money with him.
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Re: Who ever follows the “Top-Ranked” Financial Advisors on the radio?

Post by Jim180 »

These financial gurus that always claim "a buying opportunity of a lifetime" never say where a person should get the big lump sum of money to throw into the market. Sure, buy and hold investors can re-balance and buy cheaper shares on the way down but that only amounts to a small portion of their portfolio. A buy and hold investor can only take advantage of it in a big way by significantly altering their AA. Going from 50% stocks to 75 or 100% stocks to try and take advantage of a buying opportunity is not good long term because an investor never knows how long to let it ride before taking profits. All these financial advisors on the radio also always have something to sell, either an investment letter or advisory services. The try to convince everyone that investing on your own is too complicated and you need a professional to help.
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Re: Who ever follows the “Top-Ranked” Financial Advisors on the radio?

Post by DFAMAN »

whodidntante wrote: Sun Jun 14, 2020 10:35 pm
cp73 wrote: Sun Jun 14, 2020 10:01 pm I do enjoy listening to the financial advisors on the radio. However, I really wouldn't invest with them or follow all their advice. I mostly like to listen to Ken Moraif of Money Matters. He also does a weekly podcast. He targets his advice to people in or close to retirement. He is a market timer. His philsophy is that he would rather get you out of the market and miss the big drop and then not return into its safe to get back in. He says his clients would rather miss out on the big drop then miss out on some gains. If your in retirement you know how gut wrenching the fall can be especially when no one knows the bottom.I do like that philosophy, its just too bad the most the time, timing just doesn't work right and you end up losing. On March 10, 2020 he told his clients to sell all stocks. The Dow was at 25,018. The market was down about 20% from its high when he made that call. Last week on June 4 he told his clients to buy back 10%. The market closed at 26,269. They are still sitting 90% in cash. He believes there is still more downside risk in the market rather than upside. He thinks they will be 90% in cash for some time. He also mentioned that he thought since the Fed since no rate increases until (?? a year or so) that its safe to take the cash and by some bonds. He didn't say what type of bonds. There is a website that does a nice job of tracking all Ken's call since about 2008. So yes I do like listening to any type of financial advice, especially in podcast form. I also enjoy listening to Ken Merriman.
Thanks, I'll give Ken Moraif a listen. He's going to need to make a seriously compelling argument to get this gambler to sell down to 10% stocks. Especially considering my disdain for low-yielding bonds. He'll either convince me or entertain me. If he convinces me you should all be concerned. :twisted:
Before you consider Ken Moraif too much, I suggest you take a look at this thread, which has tracked his performance over the past 10-11 years.

viewtopic.php?f=10&t=175348
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Re: Who ever follows the “Top-Ranked” Financial Advisors on the radio?

Post by One Ping »

whodidntante wrote: Sun Jun 14, 2020 10:39 pm You can listen to someone you disagree with without getting "infected." Echo chambers aren't interesting IMO.
Yup.

I like listening to Don McDonald (money talks?), Meb Faber, DoughRoller, Paul Merriman, Bogleheads (Rick Ferri). Maybe not "top rated" but I find them worthwhile, in a non-echo chamber sorta way.
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Re: Who ever follows the “Top-Ranked” Financial Advisors on the radio?

Post by afan »

The only time I encounter the words "Rick Edelman" is here on bh. Until this thread I did not know he had a radio show.

I prefer to read the academic finance literature. Those papers are explicit about their methods, are not selling anything and never make recommendations to buy or sell.
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Re: Who ever follows the “Top-Ranked” Financial Advisors on the radio?

Post by Helo80 »

Skeeter1 wrote: Mon Jun 15, 2020 9:55 pm His advise on the radio is good and interesting, but do not invest your money with him.

Is it actually with him or with one of his local advisers? I thought that it was a local person after I looked into his show once (merely to better understand what he's schilling).
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Re: Who ever follows the “Top-Ranked” Financial Advisors on the radio?

Post by Mr.BB »

I noticed Dave Ramsey has been doing a lot more financial talk on his radio show then before. I did get a little chuckle from the person who called in asking if they should keep their international mutual fund. The funny part was Dave starting talking about how he and his SmartVestor advisors did a deep dive analysis into whether or not international funds were worth it. Most financial planners do not have the background or training to do analytical research; it gave me a chuckle. I still like most of his get of debt program/ideas but he is off base on his finance ideas.
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Re: Who ever follows the “Top-Ranked” Financial Advisors on the radio?

Post by Nate79 »

I listen to a ton of different financial podcasts and I have yet to find a single one that is truly a Boglehead purist 3 fund only nor who matches my investing and financial strategy exactly. But I enjoy the different points of view - I have the capability to think for myself and can listen to different opinions about investing.
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Re: Who ever follows the “Top-Ranked” Financial Advisors on the radio?

Post by Northern Flicker »

For what are they top ranked?
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Re: Who ever follows the “Top-Ranked” Financial Advisors on the radio?

Post by Stinky »

afan wrote: Tue Jun 16, 2020 6:27 pm The only time I encounter the words "Rick Edelman" is here on bh. Until this thread I did not know he had a radio show.

I prefer to read the academic finance literature. Those papers are explicit about their methods, are not selling anything and never make recommendations to buy or sell.
When I listen to Ric Edelman, I download one of his podcasts.

That way I can skip through the obvious commercials during the show. And I can listen at 1.5 X normal speed so that I can get on to the next podcast faster.
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Re: Who ever follows the “Top-Ranked” Financial Advisors on the radio?

Post by Skeeter1 »

Helo80 wrote: Tue Jun 16, 2020 6:28 pm
Skeeter1 wrote: Mon Jun 15, 2020 9:55 pm His advise on the radio is good and interesting, but do not invest your money with him.

Is it actually with him or with one of his local advisers? I thought that it was a local person after I looked into his show once (merely to better understand what he's schilling).
He is a very powerful national advisor . His "minions?" are supposed to echo his words and thoughts. Hmmm? In the end they are cookie cutter gibberish .
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Re: Who ever follows the “Top-Ranked” Financial Advisors on the radio?

Post by gvsucavie03 »

I had to stop listening to Ric Edelman... Way too much sales pitch and all of his stories are fear mongering followed by a well-timed "if you are unsure, give us a call"
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Re: Who ever follows the “Top-Ranked” Financial Advisors on the radio?

Post by zeal »

I listened to and followed the advice of Dave Ramsey when I first started paying attention to my finances. I’ve always been a skeptic when it comes to marketing, so I never actually bought anything from him. I got his book for free, then I just listened to his radio show because he is excellent at getting you fired up about rapidly getting rid of debt—which he helped me do.

When I was down to the last few thousand owed in student loans, I started listening to Robert Kiyosaki (after reading Rich Dad Poor Dad, a gift from a friend/mentor) and appreciated his attitude toward entrepreneurship. I did eventually end up buying something from him—the Cashflow 101 board game. The book, podcasts, and game all say the same thing so really no need to ever buy anything. The game has definitely brought me a lot of joy though and well worth it—some of my friends have learned from it as well and hopefully my (one day) kids will.

I’ve listened to a lot of finance “gurus” since and I always just go back to these two because they are so very similar but dissimilar, providing me with a somewhat more well-rounded understanding of basic household finances.

I next discovered Bogleheads, where I’ve pretty much stayed for all investing advice. I found and watched Warren Buffett’s Secret Millionaire’s Club videos for kids and found those entertaining. These days when I (rarely) listen to a podcast it’s either Dave Ramsey, Robert Kiyosaki, or the Millionaires Unveiled podcast. I don’t really make any financial decisions based on what I hear from any of those, just listen for entertainment.
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Re: Who ever follows the “Top-Ranked” Financial Advisors on the radio?

Post by whodidntante »

cp73 wrote: Sun Jun 14, 2020 10:01 pm I do enjoy listening to the financial advisors on the radio. However, I really wouldn't invest with them or follow all their advice. I mostly like to listen to Ken Moraif of Money Matters. He also does a weekly podcast. He targets his advice to people in or close to retirement. He is a market timer. His philsophy is that he would rather get you out of the market and miss the big drop and then not return into its safe to get back in. He says his clients would rather miss out on the big drop then miss out on some gains. If your in retirement you know how gut wrenching the fall can be especially when no one knows the bottom.I do like that philosophy, its just too bad the most the time, timing just doesn't work right and you end up losing. On March 10, 2020 he told his clients to sell all stocks. The Dow was at 25,018. The market was down about 20% from its high when he made that call. Last week on June 4 he told his clients to buy back 10%. The market closed at 26,269. They are still sitting 90% in cash. He believes there is still more downside risk in the market rather than upside. He thinks they will be 90% in cash for some time. He also mentioned that he thought since the Fed since no rate increases until (?? a year or so) that its safe to take the cash and by some bonds. He didn't say what type of bonds. There is a website that does a nice job of tracking all Ken's call since about 2008. So yes I do like listening to any type of financial advice, especially in podcast form. I also enjoy listening to Ken Merriman.
You may be happy to know that I listened to one of his podcasts and he didn't convince me to sell. Listening to him was really frustrating because he so clearly didn't want to divulge his strategy or talk about how he created it, it was just lots of hand waving and statements of benefits, basically calling B&H investors stupid. He gave an example about boarding up your house and leaving town versus going surfing during a hurricane. He thinks B&H investors go surfing during hurricanes. :happy

I went into it with an open mind. I didn't know the guy and I don't think market timing is doomed to fail. However, I didn't learn much at all, and it mostly seemed like an ad for his services, so I unsubscribed from the podcast after finishing one episode. I give it a 1 out of 10. His advice might actually be worse than Dave Ramsey's, which requires a strange and terrible skill set. Hopefully that's a clear enough assessment. LOL
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Re: Who ever follows the “Top-Ranked” Financial Advisors on the radio?

Post by DetroitRick »

I don't. Sure, I've listened on occasion, but definitely do not follow. I've found that most of what I've heard seems to fall into 3 categories - low-info discussions designed to attract clients, cheesy and/or condescending pop junk, and benign programs with some info (but not delivering enough hard content to make the time worthwhile for me).

I tend to read/watch/listen to various financial experts over the years - just to challenge my thinking and to make sure I stay current. But those are not typically, with a few exceptions, retail advisors anyway. Then I benchmark my own results for a final check of my investment strategies. In short, no gurus, no "following" of anybody.

The individual sources that I consistently have learned the most from over the years: Malkiel, Zweig, Thau, Ferri, Bernstein, Swedroe, Buffett and a few others. I also like to seek out various industry and technology (non-financial) experts. In contrast, most of the radio stuff is just too much fluff for my taste. When I listen to Edelman, on rare occasion, all I hear is that you need a plan. Well, I know that and always have. Don't need to ever hear it again, and certainly not constantly. And I simply don't need anybody to tell me how to manage credit, budget, spend wisely, choose a social security age, or pick insurance products - other topics that these shows often cover too. Nothing wrong with these particular topics, just nothing I personally need to hear.

There is, of course, nothing wrong with seeking this stuff out if it interests you - it can be a tool to teach critical thinking on investing, if you use it in that way. Compare approaches, analyze assumptions and perspectives, apply skepticism.
Pu239
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Re: Who ever follows the “Top-Ranked” Financial Advisors on the radio?

Post by Pu239 »

Are these radio financial advisors fiduciaries, provide fee-only services, and focus on low cost index funds? If not, why bother?
Between the idea And the reality...Between the motion And the act...Falls the Shadow - T. S. Eliot
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Monster99
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Joined: Tue Aug 29, 2017 10:28 am

Re: Who ever follows the “Top-Ranked” Financial Advisors on the radio?

Post by Monster99 »

In the past, I would watch Wall Street Review with Louis Rukeyser... but that was before the internet....😁
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