'We Didn't Lose Our Shirts in the 2008 Crash; Why Didn't You Sell?' Ask Investment Experts Gandhi and Letz of StopBuyingtheBull.com.
Investment experts explain why Americans lost millions of retirement dollars needlessly
NEW YORK New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Dec. 8 /PRNewswire/ -- Between December of 2007 and 2008, American retirement accounts lost an average value of 32%. While many blamed the losses on the credit market collapse, the fall of Lehman Brothers Lehman Brothers Holdings Inc. (NYSE: LEH), founded in 1850, is a diversified, global financial services firm. It is a participant in investment banking, equity and fixed income sales, research and trading, investment management, private equity, and private banking. , or the Fannie and Freddie disaster, Frank Letz of http://www.stopbuyingthebull.com/, an Internet stock Internet stock
The equity security of a company engaged primarily in a business associated with the Internet. Also called dot-com. service, blames financial advisors.
"In over thirty years of being in this business, I've yet to see anyone offer straight advice about when to get money out of the market. People are told to invest in the long term, that the market regularly goes up and down. Now they're being told they shouldn't be discouraged; everyone lost money. I saw one broker advertise that people shouldn't be upset because he lost money, too. Is that supposed to be comforting?"
StopBuyingtheBull.com, the service Letz works for, was developed to tell people not only when to sell stocks, but also when to buy, and hold them. "People were fed lots of information prior to the meltdown," say Ashu Gandhi, President of World Wide Quote, the Canadian firm that engineered StopBuyingtheBull. "StopBuyingtheBull.com lets you sort through the information and make good buying and selling decisions because it's non-biased. It's not from a broker or an investment advisor Investment Advisor
1. A person making investment recommendations in return for a flat fee or percentage of assets managed, known as a commission.
2. For mutual fund companies, it is the individual who has the day-to-day responsibility of investing and monitoring the cash and . It identifies trends in the market via a variety of algorithms."
Gandhi and Letz both agree that no matter how ethical a broker is, their recommendations are biased as they also calculate income the firm will generate. "They must," says Letz. "They have bills to pay, too. We don't make money from commissions. We believe people should pay for advice rather than buying from someone who's getting a commission, thus avoiding a conflict of interest."
While Letz won't tell the valuable algorithms that make the site work, he explains the site makes decisions based on the idea that "big money" moves markets. "When you hear about 'investors' doing this and that on television, they're not talking about individuals. They're talking about people that move money for large institutions. When those folks want to move money they can't do it all at once. They're buying and selling in such large quantities that if they didn't dribble funds in and out they would drive the price up and down on themselves." By keeping track of these types of moves, StopBuyingtheBull.com is able to recommend when users should buy, sell, or hold stocks.
Letz says users of the service don't need a broker, but if they have one it's a great way to crosscheck their recommendations. "Regardless of how you trade, this will change your life. We had investors out of the market well before the financial downslide down·slide
A downward course; a decline: "a growing concern among . . . board leaders about whether the economy could be headed for a downslide" Andrée Brooks. of 2008 and our performance blows any of the large firms out of the water. The proof is out there. Sign up or get a trial membership and you'll realize you don't have to get crushed in the market."
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