by The Investor
on December 5, 2009
My regular Saturday comment followed by this week’s blog and financial site links.
Ever wondered why people are bad with money? Turn to today’s Financial Times, which reports that most financial advisers have never recommended a low-cost ETF:
Just under two-thirds of independent financial advisers (IFAs) have never advised on ETFs, while 23 per cent have recommended the products to less than 10 per cent of their clients, according to research carried out by the Financial Times and Skandia, the investment group.
What a disgrace. These people are supposedly professionals, paid by their clients for advice on the best investing products, and almost two-thirds of them have shunned one that delivers cheaply and efficiently.
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by The Investor
on December 4, 2009
Reader Len Penzo raised a very good point in response to my post about how your investing might change if you knew when you’d die:
I notice you have taken the perspective of a single man with no kids. But what if you have a family, Investor? That changes the calculus yet again!
For example, if I was single with no kids and knew I had two months to live – or five years, for that matter – then I would make sure the last penny of my savings would be used to pay the mortician who cremates me.
Ah, but with a wife and kids, those thought equations are turned upside down.
I wrote the original post to provoke thought, rather than to cover all the eventualities, but I decided Len’s point was such a good one that it deserved a specific follow-up.
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by The Investor
on December 4, 2009
I think it was the third bottle of fizzy water she’d asked the waiter for that did it. But perhaps it was the fourth. Contrary to her protestations, I wasn’t counting.
Either way, I complained that we were spending a fortune on what’s normally free – and that we weren’t even getting good value for money, since with all that air in the bottled bubbles we were getting less water, too.
That last bit was a joke, but she didn’t see the funny side. In fact, my girlfriend informed me that I cared too much about money, and that most ‘normal’ people wouldn’t think twice about buying a third/fourth bottle of the free stuff.
“What if you got hit by a bus tomorrow,” my girlfriend said, having not had time to work up something more original. “What good would saving £2 on a bottle of water be then?”
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by The Investor
on December 2, 2009
I have been roaming around Eastern Europe for nearly two weeks without a consistent Internet connection – and with an aversion to paying scandalous any data roaming charges for my iPhone.
This meant that I only caught snippets about the Dubai World debt suspension story that spooked the stock markets.
That’s the bad news. But it’s not really bad news because it just meant I missed:
- A stock market wobble
- Hundreds of thousands of words of speculation, written by journalists and bloggers salivating that the crash was back on (they miss the meltdown)
- The predictions of doom splashed across the Sunday papers – with icons of the Earth in the shape of a bomb with a skyscraper in Dubai for a fuse.
- Any response mumbled by Gordon Brown.
In fact, I only caught the tail-end: the recovery. Party time!
My portfolio didn’t miss out, of course. It went down, and then up, regardless of whether I paid any attention or not.
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