I receive many inquiries from readers of my books asking my advice about recommendations they receive from their broker. Typically, these recommendations are in the best interest of the broker and his employer.
Many advisors ask me how they can emulate the conduct of advisors with the X factor. It’s a challenging question. I recently found it in an unlikely source: The commissioner of the National Basketball Association, Adam Silver.
It would be great if the financial media conveyed useful information to investors. If it did, you’d see headlines like these
Trying to find a mispriced stock is like looking for a blue sweater in your size that’s on sale at your favorite department store.
I always pose this question in training sessions: Can you describe how the prospect feels when coming to your office?
There’s a way to vastly improve your returns, but it’s not very palatable: Die and don’t tell anyone about your account. They’ll probably find out about it after ten or twenty years. The returns are likely to be stellar.