Edelman "Telling" Investors to Sell

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Tool-Time
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Edelman "Telling" Investors to Sell

Post by Tool-Time »

On this mornings show, Edelman was telling are people to sell their stock investments if they feel scared. All the while scaring them with evidence of a market drop, cycles show sell off etc. Are you selling?
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JoMoney
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Re: Edelman "Telling" Investors to Sell

Post by JoMoney »

Does he have suggestions as to what they should spend the money on?
What do you imagine the story is behind the people who are buying from the sellers?
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Re: Edelman "Telling" Investors to Sell

Post by Tool-Time »

His recommendation is to contact your advisor. There are always buyers and sellers, not sure the point of your question.
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Re: Edelman "Telling" Investors to Sell

Post by JoMoney »

Tool-Time wrote: Sun Sep 06, 2020 6:56 am... There are always buyers and sellers, not sure the point of your question.
That was the point.
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Re: Edelman "Telling" Investors to Sell

Post by Call_Me_Op »

Tool-Time wrote: Sun Sep 06, 2020 6:33 am On this mornings show, Edelman was telling are people to sell their stock investments if they feel scared. All the while scaring them with evidence of a market drop, cycles show sell off etc. Are you selling?
I am surprised. Usually, Rick does not give that advice. He is focused on getting new business, but his advice is usually to diversify and stay the course.
Last edited by Call_Me_Op on Sun Sep 06, 2020 7:02 am, edited 1 time in total.
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Re: Edelman "Telling" Investors to Sell

Post by dcabler »

Tool-Time wrote: Sun Sep 06, 2020 6:33 am On this mornings show, Edelman was telling are people to sell their stock investments if they feel scared. All the while scaring them with evidence of a market drop, cycles show sell off etc. Are you selling?
I don't do anything based on what talking heads in any media format say. Ever.
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Re: Edelman "Telling" Investors to Sell

Post by Tool-Time »

dcabler wrote: Sun Sep 06, 2020 7:01 am
I don't do anything based on what talking heads in any media format say. Ever.
I learned that one long ago, yet sometimes there is a kernel of truth in all the hype.
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Re: Edelman "Telling" Investors to Sell

Post by JoMoney »

Call_Me_Op wrote: Sun Sep 06, 2020 7:00 am
Tool-Time wrote: Sun Sep 06, 2020 6:33 am On this mornings show, Edelman was telling are people to sell their stock investments if they feel scared. All the while scaring them with evidence of a market drop, cycles show sell off etc. Are you selling?
I am surprised. Usually, Rick does not give that advice. He is focused on getting new business, but his advice is usually to diversify and stay the course.
It's been awhile since I've listened to him, what I recall from his advice, was to mortgage your house to the limit, then turn all your money over to his advisory firm to implement essentially a three fund portfolio and "stay the course" with that...

..well, that and he says "Rice Del Man" so people spell his website right :?
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Re: Edelman "Telling" Investors to Sell

Post by runner3081 »

Who is Edelman and who cares?
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Re: Edelman "Telling" Investors to Sell

Post by Call_Me_Op »

JoMoney wrote: Sun Sep 06, 2020 7:09 am
Call_Me_Op wrote: Sun Sep 06, 2020 7:00 am
Tool-Time wrote: Sun Sep 06, 2020 6:33 am On this mornings show, Edelman was telling are people to sell their stock investments if they feel scared. All the while scaring them with evidence of a market drop, cycles show sell off etc. Are you selling?
I am surprised. Usually, Rick does not give that advice. He is focused on getting new business, but his advice is usually to diversify and stay the course.
It's been awhile since I've listened to him, what I recall from his advice, was to mortgage your house to the limit, then turn all your money over to his advisory firm to implement essentially a three fund portfolio and "stay the course" with that...

..well, that and he says "Rice Del Man" so people spell his website right :?
Yes, he does generally give the advice that people hold a mortgage because they are likely to obtain a higher return investing the money. I don't agree with that advice for the average person. I have listened to him for a long time, and I think he is knowledgeable, but first and foremost a salesman.
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Re: Edelman "Telling" Investors to Sell

Post by Helo80 »

Call_Me_Op wrote: Sun Sep 06, 2020 7:00 am
Tool-Time wrote: Sun Sep 06, 2020 6:33 am On this mornings show, Edelman was telling are people to sell their stock investments if they feel scared. All the while scaring them with evidence of a market drop, cycles show sell off etc. Are you selling?
I am surprised. Usually, Rick does not give that advice. He is focused on getting new business, but his advice is usually to diversify and stay the course.
Agreed. I have kind of gotten tired of his radio/advertising show/spot, but generally, he's a B&H guy. His advice is better than the guys selling indexed annuities.

He's always offering "free" portfolio consultations that are worth several hundred dollars if you call by Monday/Tuesday evening since "spots are limited".
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Re: Edelman "Telling" Investors to Sell

Post by Helo80 »

runner3081 wrote: Sun Sep 06, 2020 7:34 am Who is Edelman and who cares?
Wealth planner that has a network of CFPs. He's a salesman in the end, but in general, his advice really is not bad. All of the callers to his show and/or voicemails asking him investing questions sound incredibly canned though.
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Re: Edelman "Telling" Investors to Sell

Post by Tool-Time »

Agreed that behind his styck he often gave good advice. Calls ate not live and do seem staged. Many of his “News” stories are anecdotal.
Lately he has added more fear to the show. Plus his wife has been given a segment that borders on new age mumbo jumbo, talking about dreams, new beginnings etc.
Last edited by Tool-Time on Sun Sep 06, 2020 8:02 am, edited 1 time in total.
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Re: Edelman "Telling" Investors to Sell

Post by dogagility »

Sounds like Edelman's advice is less than optimal... should stick to catching footballs.
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Re: Edelman "Telling" Investors to Sell

Post by whereskyle »

Tool-Time wrote: Sun Sep 06, 2020 6:33 am On this mornings show, Edelman was telling are people to sell their stock investments if they feel scared. All the while scaring them with evidence of a market drop, cycles show sell off etc. Are you selling?
I absolutely, positively never take advice to sell. The Covid crash was, yet again, a historic transfer of wealth from the not so rich to the very rich, whom Bernstein cynically dubs "stocks' rightful owners." See: http://www.efficientfrontier.com/ef/0adhoc/Rightful.htm

Wealthy individuals and institutions love panic sales, corrections, and bear markets. In short, they are buying when the little people are panicking.

My plan is to begrudgingly sell stocks when, and only when, I am an old man with no job and I need the money. Until then, I don't care what Edelman or anyone else in the world says.
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Re: Edelman "Telling" Investors to Sell

Post by aqan »

Call_Me_Op wrote: Sun Sep 06, 2020 7:00 am
Tool-Time wrote: Sun Sep 06, 2020 6:33 am On this mornings show, Edelman was telling are people to sell their stock investments if they feel scared. All the while scaring them with evidence of a market drop, cycles show sell off etc. Are you selling?
I am surprised. Usually, Rick does not give that advice. He is focused on getting new business, but his advice is usually to diversify and stay the course.
They all try to cover all bases so when the market drops they can claim that they warned the investors etc..
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Re: Edelman "Telling" Investors to Sell

Post by flaccidsteele »

Tool-Time wrote: Sun Sep 06, 2020 7:03 am
dcabler wrote: Sun Sep 06, 2020 7:01 am
I don't do anything based on what talking heads in any media format say. Ever.
I learned that one long ago, yet sometimes there is a kernel of truth in all the hype.
This isn’t that time
The US market always recovers. It’s never different this time. Retired in my 40s. Investing is a simple game of rinse and repeat
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Re: Edelman "Telling" Investors to Sell

Post by jcar »

Anything said about how to invest on radio or tv I ignore. There maybe usable information on those outlets for day trading but not for the long term investor. If you bought an equity this past Tuesday for sound reasons I suspect those reasons are valid today. Now if you feel the market is overextended it may not be the time to reinvest dividends or put in new cash. Certainly many companies have tremendous cash flow and inventories for most are not overly high. Certainly the costs of money is low. Those things typically add up to a growing market. Being influenced by politics or disease is a game of pure speculation, not investing though.
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Re: Edelman "Telling" Investors to Sell

Post by Robot Monster »

And if you listened to, "Stocks vulnerable to another 20% downdraft, investor Peter Boockvar warns," on April 16th, and were scared out of the market, how pleased would you be?
https://www.cnbc.com/amp/2020/04/16/sto ... ssion=true

Or how about, "Opinion: Why the stock market is nowhere near a bottom and investors can expect a massive hit," published two days earlier.
https://www.marketwatch.com/story/why-t ... =home-page

Obviously, April would have been a terrible time to invest going by headlines such as, "How Bad Might It Get? Think the Great Depression."
https://www.bloomberg.com/amp/opinion/a ... ssion=true

I have a folder of 37 articles of this type from April alone. Stuff like this is not reliable. Ignore the noise.
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Re: Edelman "Telling" Investors to Sell

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Tool-Time wrote: Sun Sep 06, 2020 6:33 am On this mornings show, Edelman was telling are people to sell their stock investments if they feel scared. All the while scaring them with evidence of a market drop, cycles show sell off etc. Are you selling?
I don't feel scared, so I'm not selling.

That said, if folks really are all that scared, they should do whatever they need to do in order to feel calm. It's similar to what I would advise folks about paying off a low-interest mortgage - if having a mortgage keeps you awake at night, pay it off.

I haven't listened to the episode, so I can't comment without understanding the context of this particular advice. I'd guess Ric wasn't telling everyone in his audience to sell everything, and that there was a bit more nuance to it.
Last edited by JoeRetire on Sun Sep 06, 2020 10:09 am, edited 2 times in total.
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Re: Edelman "Telling" Investors to Sell

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JoMoney wrote: Sun Sep 06, 2020 7:09 am It's been awhile since I've listened to him, what I recall from his advice, was to mortgage your house to the limit, then turn all your money over to his advisory firm to implement essentially a three fund portfolio and "stay the course" with that...
Your recollection is a bit hazy. Edelman has never advocated a three-fund portfolio.
..well, that and he says "Rice Del Man" so people spell his website right :?
That part of your recollection is correct.
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Re: Edelman "Telling" Investors to Sell

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JoeRetire wrote: Sun Sep 06, 2020 10:02 am
Tool-Time wrote: Sun Sep 06, 2020 6:33 am On this mornings show, Edelman was telling are people to sell their stock investments if they feel scared. All the while scaring them with evidence of a market drop, cycles show sell off etc. Are you selling?
I don't feel scared, so I'm not selling.

That said, if folks really are all that scared, they should do whatever they need to do in order to feel calm.
If people really are that scared, perhaps their allocation itself is at fault, i.e. is beyond their risk tolerance and they shouldn't have allocated so much to stocks to begin with?
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Re: Edelman "Telling" Investors to Sell

Post by JoeRetire »

Robot Monster wrote: Sun Sep 06, 2020 10:14 am
JoeRetire wrote: Sun Sep 06, 2020 10:02 am
Tool-Time wrote: Sun Sep 06, 2020 6:33 am On this mornings show, Edelman was telling are people to sell their stock investments if they feel scared. All the while scaring them with evidence of a market drop, cycles show sell off etc. Are you selling?
I don't feel scared, so I'm not selling.

That said, if folks really are all that scared, they should do whatever they need to do in order to feel calm.
If people really are that scared, perhaps their allocation itself is at fault, i.e. is beyond their risk tolerance and they shouldn't have allocated so much to stocks to begin with?
I agree. But sometimes folks don't realize until after the fact. You cannot go back in time and undo what you have done. You can only go forward.

For some who are scared enough, that might mean going to cash or all bonds or something else. Living in fear is a bad thing. Not what I'd generally advise, but I'm not scared.
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Re: Edelman "Telling" Investors to Sell

Post by lostdog »

dogagility wrote: Sun Sep 06, 2020 8:01 am Sounds like Edelman's advice is less than optimal... should stick to catching footballs.
That's Julian Edelman... :happy
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Re: Edelman "Telling" Investors to Sell

Post by andypanda »

"And if you listened to, "Stocks vulnerable to another 20% downdraft, investor Peter Boockvar warns," on April 16th, and were scared out of the market, how pleased would you be?"

After paying the LTCG and STCG taxes on almost $800,000 of gains? And getting hit with another couple of steps up the IRMAA scale for an entire year? I don't think I'd be very happy. Of course, I've never heard of the guy or Edelman either, so the chances of me getting talked into selling it all are pretty slim. I also didn't sell on Black Monday '87 when the DJIA dropped 22.6%.
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Re: Edelman "Telling" Investors to Sell

Post by nisiprius »

Any remark by anyone who is a professional money manager--whether it be of a hedge fund, a mutual fund, or an advisory firm--should not be considered as a recommendation to make some trade, but rather a recommendation to become the firm's customer.

They are not in the business of teaching investors how to invest on their own. And whatever they say is always too weasel-worded to act on.
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Re: Edelman "Telling" Investors to Sell

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Tool-Time wrote: Sun Sep 06, 2020 6:33 am On this mornings show, Edelman was telling are people to sell their stock investments if they feel scared. All the while scaring them with evidence of a market drop, cycles show sell off etc. Are you selling?
No, I am not selling.

Also, I am not listening to or watching money managers in the media.
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Re: Edelman "Telling" Investors to Sell

Post by Raymond »

Never heard of the guy.

Not selling.

May I suggest watching something else?
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Re: Edelman "Telling" Investors to Sell

Post by Angst »

Helo80 wrote: Sun Sep 06, 2020 7:48 am
runner3081 wrote: Sun Sep 06, 2020 7:34 am Who is Edelman and who cares?
Wealth planner that has a network of CFPs. He's a salesman in the end, but in general, his advice really is not bad. All of the callers to his show and/or voicemails asking him investing questions sound incredibly canned though.
It appears to me that "Edelman Financial Engines" (FE) is slowly being integrated into many corporate 401k retirement plans, including those administered by Vanguard. For example, here's a link to a Vanguard/Financial Engines webpage that employees of Farmers Insurance are directed to regarding 401k/general investment advice:

https://retirementplans.vanguard.com/ekit/farmers/investment_advice/financial_engines.html
Vanguard (and FE) wrote:Personal Online Advisor

The Plan offers an online investment advisory service called Personal Online Advisor, powered by Financial Engines.

Financial Engines was developed by Nobel Prize-winning economist William F. Sharpe and a team of leading software and finance experts to provide you unbiased, personalized and ongoing fund recommendations for your 401(k) Savings Plan.
I was a little surprised myself when I first discovered that my own employer was using FE through our Vanguard 401k. Edelman is such a self-promoting salesman, and I have never been a fan of the "salesman personality" in general, but FE does appear to abide by fairly BH-oriented investment practices. For whatever reasons though, companies seem to be choosing Financial Engines (and presumably other providers) over Vanguard when it comes to offering employees direct advice on investing and retirement within their Vanguard administered 401k accounts.

If you go to this FE webpage to the "About Us" link and scroll down to the "History" section, and move from left to right through the chronology of Rec Edelman's personal/commercial milestones on behalf of "Ric Edelman Financial Engines"... well, it makes me squirm a bit to read. :|

https://www.edelmanfinancialengines.com/about-us/edelman-financial-engines
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Re: Edelman "Telling" Investors to Sell

Post by nisiprius »

Raymond wrote: Sun Sep 06, 2020 11:20 am...Never heard of the guy...
He claimed on his show that Vanguard index funds included 1.4% per year in hidden costs. Allan Roth pursued him and got him to make a retraction. A few years later Edelman repeated the same claim.

Image

In a 2007 book had had a chapter on "why you must sell all your retail mutual funds now." Around 2009 he said that mutual funds were dinosaurs and would be gone in ten years, superseded by ETFs. He has continued to say this. According to the most recent Investment Company Institute factbook, as of year-end 2019 mutual funds hold five times the assets of ETFs.

Like other gurus (Suze Orman, for example) what he says is a bizarre mix of sensible things and crazy things. But if you know enough to sort out which is which, then you don't need his advice at all.
Last edited by nisiprius on Sun Sep 06, 2020 11:47 am, edited 1 time in total.
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Re: Edelman "Telling" Investors to Sell

Post by whodidntante »

Those of you who consider that dude an infallible expert should do exactly what he says. Sell on Tuesday.

But my opinion is that an all-cash or other forms of all dead weight portfolios present different but still extremely serious risks. Also, I listened to one of Edelman's podcasts and found it to be one of the worst finance podcasts I have heard. I wouldn't trust him to make me a sandwich, much less manage my investments.
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Re: Edelman "Telling" Investors to Sell

Post by yules »

I always feel like Quick Talking Slick Ric Edelman is trying to sell me a used car. He goes on so many tangents when he answers callers' questions in an attempt to show that he understands the complexity of one decision, but IMO comes off as evasive and smole screeny.

That said, at least he still is doing his own show. Dane Ramsey seems to be farming out his show to a bunch of other folks, "Ramsey personalities" as if they don't have their own personalities?, who try to emulate Dave's corny phrases (I see you Chris Hogan, "focused but not finished") but fail to meet the Dave Ramsey standard.
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Re: Edelman "Telling" Investors to Sell

Post by ruralavalon »

Angst wrote: Sun Sep 06, 2020 11:25 am
Helo80 wrote: Sun Sep 06, 2020 7:48 am
runner3081 wrote: Sun Sep 06, 2020 7:34 am Who is Edelman and who cares?
Wealth planner that has a network of CFPs. He's a salesman in the end, but in general, his advice really is not bad. All of the callers to his show and/or voicemails asking him investing questions sound incredibly canned though.
It appears to me that "Edelman Financial Engines" (FE) is slowly being integrated into many corporate 401k retirement plans, including those administered by Vanguard. For example, here's a link to a Vanguard/Financial Engines webpage that employees of Farmers Insurance are directed to regarding 401k/general investment advice:

https://retirementplans.vanguard.com/ekit/farmers/investment_advice/financial_engines.html
Vanguard (and FE) wrote:Personal Online Advisor

The Plan offers an online investment advisory service called Personal Online Advisor, powered by Financial Engines.

Financial Engines was developed by Nobel Prize-winning economist William F. Sharpe and a team of leading software and finance experts to provide you unbiased, personalized and ongoing fund recommendations for your 401(k) Savings Plan.
I was a little surprised myself when I first discovered that my own employer was using FE through our Vanguard 401k. Edelman is such a self-promoting salesman, and I have never been a fan of the "salesman personality" in general, but FE does appear to abide by fairly BH-oriented investment practices. For whatever reasons though, companies seem to be choosing Financial Engines (and presumably other providers) over Vanguard when it comes to offering employees direct advice on investing and retirement within their Vanguard administered 401k accounts.

If you go to this FE webpage to the "About Us" link and scroll down to the "History" section, and move from left to right through the chronology of Rec Edelman's personal/commercial milestones on behalf of "Ric Edelman Financial Engines"... well, it makes me squirm a bit to read. :|

https://www.edelmanfinancialengines.com/about-us/edelman-financial-engines
I have not looked at Financial Engines for many years, I thought that it was helpful when I used it. Vanguard has offered Financial Engines for many years.

Financial Engines was not created by Edelman.

Has Financial Engines changed since being acquired and combined with Edelman in 2018? Newswire
Last edited by ruralavalon on Sun Sep 06, 2020 12:54 pm, edited 4 times in total.
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Re: Edelman "Telling" Investors to Sell

Post by Rowan Oak »

Tool-Time wrote: Sun Sep 06, 2020 6:33 am On this mornings show, Edelman was telling are people to sell their stock investments if they feel scared. All the while scaring them with evidence of a market drop, cycles show sell off etc. Are you selling?
What's he selling?

Does he run an assets under management fee model firm?

If you sell and give your money to him to manage will he protect you from the next market drop?
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Re: Edelman "Telling" Investors to Sell

Post by hale2 »

JoeRetire wrote: Sun Sep 06, 2020 10:02 am
Tool-Time wrote: Sun Sep 06, 2020 6:33 am On this mornings show, Edelman was telling are people to sell their stock investments if they feel scared. All the while scaring them with evidence of a market drop, cycles show sell off etc. Are you selling?
I don't feel scared, so I'm not selling.

That said, if folks really are all that scared, they should do whatever they need to do in order to feel calm. It's similar to what I would advise folks about paying off a low-interest mortgage - if having a mortgage keeps you awake at night, pay it off.

I haven't listened to the episode, so I can't comment without understanding the context of this particular advice. I'd guess Ric wasn't telling everyone in his audience to sell everything, and that there was a bit more nuance to it.
I didn't hear the show either but I'm guessing the same as you. It was probably in the context of if you're scared you're too aggressive and need to reduce your stock allocation. The same advice you get here. I don't follow Edelman but I find it hard to believe he would suddenly be anti-stocks.
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Re: Edelman "Telling" Investors to Sell

Post by JoeRetire »

hale2 wrote: Sun Sep 06, 2020 1:08 pm
JoeRetire wrote: Sun Sep 06, 2020 10:02 am
Tool-Time wrote: Sun Sep 06, 2020 6:33 am On this mornings show, Edelman was telling are people to sell their stock investments if they feel scared. All the while scaring them with evidence of a market drop, cycles show sell off etc. Are you selling?
I don't feel scared, so I'm not selling.

That said, if folks really are all that scared, they should do whatever they need to do in order to feel calm. It's similar to what I would advise folks about paying off a low-interest mortgage - if having a mortgage keeps you awake at night, pay it off.

I haven't listened to the episode, so I can't comment without understanding the context of this particular advice. I'd guess Ric wasn't telling everyone in his audience to sell everything, and that there was a bit more nuance to it.
I didn't hear the show either but I'm guessing the same as you. It was probably in the context of if you're scared you're too aggressive and need to reduce your stock allocation. The same advice you get here. I don't follow Edelman but I find it hard to believe he would suddenly be anti-stocks.
I'll have to listen to the podcast and hear the context of that comment myself.
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Re: Edelman "Telling" Investors to Sell

Post by jdb »

lostdog wrote: Sun Sep 06, 2020 10:24 am
dogagility wrote: Sun Sep 06, 2020 8:01 am Sounds like Edelman's advice is less than optimal... should stick to catching footballs.
That's Julian Edelman... :happy
Very funny. Thanks for my laugh of the day. Never listened to slick Ric and hopefully never will. But have watched Julian catch footballs many times. Far better use of time. Good luck.
Last edited by jdb on Sun Sep 06, 2020 2:27 pm, edited 1 time in total.
Alkali Ike
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Re: Edelman "Telling" Investors to Sell

Post by Alkali Ike »

His radio show is worth a listen just for the unintentional hilarity of his wife's weekly segment. Ric introduces her with her college degrees and also as an expert in macrobiotic cooking. She then proceeds to come across almost like the old Al Frankin SNL character Stuart Smalley complete with new age, homeopathic advice. What any of this has to do with your finances is lost on me.
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wander
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Re: Edelman "Telling" Investors to Sell

Post by wander »

I am telling people to hold, do you care to listen?
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LiveSimple
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Re: Edelman "Telling" Investors to Sell

Post by LiveSimple »

My IPS do not have any items to listen to these talking heads, so no action required
Angst
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Re: Edelman "Telling" Investors to Sell

Post by Angst »

ruralavalon wrote: Sun Sep 06, 2020 12:50 pmI have not looked at Financial Engines for many years, I thought that it was helpful when I used it. Vanguard has offered Financial Engines for many years.

Financial Engines was not created by Edelman.

Has Financial Engines changed since being acquired and combined with Edelman in 2018? Newswire
I never had anything to do with them so I never had an opinion, not until my company's Vanguard 401k recently began to steer me to them for any advice about investing I might need for my 401k account or retirement in general. If you look at their original website though, you will quickly come across Ric Edelman's fingerprints, perhaps paws, I daresay!

https://financialengines.com/workplace

At the above website, clicking the "About Us" link at the top right corner of the page will bump you from the financialengines.com domain to the one below (I included in my earlier post), and its chronological history in which the life of Ric Edelman's company overshadows and largely subsumes that of the original "Financial Engines". In other respects, the company may well remain much as it always was, but I wouldn't know.

https://www.edelmanfinancialengines.com/about-us/edelman-financial-engines
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TechGuy365
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Re: Edelman "Telling" Investors to Sell

Post by TechGuy365 »

I remember reading "Truth about Money" more than 20 years ago. His advice on carrying a large mortgage had immense effect on me and my family over the years. I have always had good, steady jobs and his advice gave me the confidence to stretch on our home purchases (stretch to me was 60% LTV with 40% down). We've lived in better locations, more comfortable homes and in higher-performing school districts because of this, with positive home equity growth. All the while the mortgage payment became easier and easier with earning growth. We can easily pay off our mortgage today but I still carry one due to the low interest rate.

If David Ramsey's "one-thing" is his baby steps on getting out of debt, Ric's "one-thing" is his "carry a big mortgage" advice (the right LTV is personal of course) and I thank him for that. I wouldn't ask either one of them for investment advices though.
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Sufferlandrian
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Re: Edelman "Telling" Investors to Sell

Post by Sufferlandrian »

whodidntante wrote: Sun Sep 06, 2020 11:47 am I wouldn't trust him to make me a sandwich...
Best post of the week!! :D

If you need reassuring, I suggest you read the "Little Book of Common Sense Investing".
Learning to fish.
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stilts1007
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Re: Edelman "Telling" Investors to Sell

Post by stilts1007 »

JoeRetire wrote: Sun Sep 06, 2020 10:05 am Your recollection is a bit hazy. Edelman has never advocated a three-fund portfolio.
I read one of Ric Edelman's earlier books and, aside from bashing mutual funds in favor of ETFs, I thought it was a pretty good overview of the buy-and-hold index fund portfolio. The book I had (it was either The Lies About Money or The Truth About Money) had portfolio suggestions based on a number of factors, and all of the portfolios included large, medium, and small cap funds, as well as bonds and REIT.

So, not a 3-fund portfolio, but a lot less complicated and more index-y than a lot of advisors' books would suggest.
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zaplunken
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Re: Edelman "Telling" Investors to Sell

Post by zaplunken »

Alkali Ike wrote: Sun Sep 06, 2020 2:03 pm His radio show is worth a listen just for the unintentional hilarity of his wife's weekly segment. Ric introduces her with her college degrees and also as an expert in macrobiotic cooking. She then proceeds to come across almost like the old Al Frankin SNL character Stuart Smalley complete with new age, homeopathic advice. What any of this has to do with your finances is lost on me.
Great comments on his wife.

I used to listen to RE for many years but about 2 years ago I decided I heard enough of his irrational comments and self promoting crowing. About 2 months ago I had the radio on the channel his show was on when I turned on the radio. He was coming out of a break and I heard his wife's nonsense about macrobiotic and new age horse manure for the 1st time, at that point I knew he jumped the shark! Some good and some bad advice is interwoven in his show. I can separate the wheat from the chaff but the fish he is angling for would just throw up their hands and say take my money, but hey aren't they all doing that!

IIRC he bought Financial Engines, my 401k uses them now and I ignore all emails to check out my portfolio etc. It's all Stable Value so I know what they'll tell me and being retired with no equities with a 300+k balance they must think I am a prime candidate, they don't know what I have at Vanguard or in cash. :sharebeer
Ferdinand2014
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Re: Edelman "Telling" Investors to Sell

Post by Ferdinand2014 »

I do not watch or own a television. I do not know who Edelman is. I do not need the money so I am not selling my stock. I would not have any other reason to sell my stock.
“You only find out who is swimming naked when the tide goes out.“ — Warren Buffett
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pointyhairedboss
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Re: Edelman "Telling" Investors to Sell

Post by pointyhairedboss »

My recollection, and it may not be accurate, is that Edelman used to be a big load fund guy back in the 90's and sometime in the early aughts became a DFA guy. It is likely his advice was given in a market timing context but more in a "asset allocation was to aggressive if you can't handle the volatility" context. I doubt Ric would veer from the DFA advice playbook so significantly.
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tooluser
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Re: Edelman "Telling" Investors to Sell

Post by tooluser »

Tool-Time wrote: Sun Sep 06, 2020 6:33 am On this mornings show, Edelman was telling are people to sell their stock investments if they feel scared. All the while scaring them with evidence of a market drop, cycles show sell off etc. Are you selling?
When did he say that? I listened to most of the show and I did not hear that. It airs in the afternoon here.

I heard him imply that Robinhood's free small-scale trading platform was responsible for a recent uptick in "odd behavior", possibly irresponsible investing by small investors. This was based on an interview he conducted earlier in the week with someone. The market then fell for two days in a row after the interview. The implication was that the interview's implication was correct.

So that would make my take on it to be third-hand news, and therefore make me an unreliable source. :confused
invest4
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Re: Edelman "Telling" Investors to Sell

Post by invest4 »

whodidntante wrote: Sun Sep 06, 2020 11:47 am I wouldn't trust him to make me a sandwich, much less manage my investments.
Just wanted to say I chuckled out loud at that one.

Otherwise, nothing to see here for this topic. I too would like to rely on an all knowing sage to guide...the search continues in perpetuity. :wink:

Not selling. However, I am accumulating new monies in cash at the moment as Cape exceeds 30.
JackoC
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Re: Edelman "Telling" Investors to Sell

Post by JackoC »

lostdog wrote: Sun Sep 06, 2020 10:24 am
dogagility wrote: Sun Sep 06, 2020 8:01 am Sounds like Edelman's advice is less than optimal... should stick to catching footballs.
That's Julian Edelman... :happy
I think the joke was that the first post just said 'Edelman' as if we're supposed to know who that is. I would also say the most famous 'Edelman' is Julian Edelman. And I remember (baseball great) Lenny Dykstra had a career as a stock picker on TV (before pleading guilty to bankruptcy fraud), so maybe Julian also started it up. :happy
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