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Financial pro loses house


shalab
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meh...based on his background/decisions he didn't see like much of a financial pro to me...seemed more like he had a string of good luck and was a good client relationship manager/salesperson.

 

Sadly, that's all it seems to take these days to make it in the financial advisory business.

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I know some brokers and financial advisors quite well and most of them know almost nothing about how the market works, how to make good investments, etc.  Many of them can roll a senior citizen's munis over or roll GNMA's or something like that.  Disturbingly, I have heard many stories of how brokers blow themselves up trading options and the like.  They are sitting all day in front of their computer screens, yet don't have the skills necessary to even attempt those kinds of maneuvers.

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