A stint in detox.Wow. What a surprise. The markets behaved exactly as they should. Bernanke says the recession is "most likely" over and every money manager I speak with believes the March 9th market low was in fact the low. So with that said, despite all the garbage that spewed from the consumer press, it actually wasn't different this time. When an overheated o·ver·heat v. o·ver·heat·ed, o·ver·heat·ing, o·ver·heats v.tr. 1. To heat too much. 2. To cause to become excited, agitated, or overstimulated. v.intr. market bubble led to stupid behavior by our best and brightest, it hit its peak and collapsed in on itself. Time to reset, regroup re·group v. re·grouped, re·group·ing, re·groups v.tr. To arrange in a new grouping. v.intr. 1. To come back together in a tactical formation, as after a dispersal in a retreat. . That's the good news. Of course, the had news is the work to he done to remove said garbage from your clients' minds. Call it behavioral economics Behavioral Economics A field of economics that studies how the actual decision-making process influences the decisions that are reached. Notes: The two most important questions in this field are: on steroids. "I routinely get questions that begin, 'Now that buy and hold is dead ...,' or 'Now that asset allocation Asset Allocation The process of dividing a portfolio among major asset categories such as bonds, stocks or cash. The purpose of asset allocation is to reduce risk by diversifying the portfolio. has been disproven," says Schwab Institutional CIO CIO: see American Federation of Labor and Congress of Industrial Organizations. (Chief Information Officer) The executive officer in charge of information processing in an organization. Jeff Mortimer. "They take it as Gospel truth. There's no debate. In their minds it's been decided." Which brings us--in an admittedly roundabout way--to this years Readers Choice Awards. You'll notice something about the winners. In the heat of battle, they stayed calm. No freak-outs, no crazy ideas or even crazier product releases. They did what they've always done, offered products and services in the best interest of clients with a mandate of accumulating, and de-cumulating wealth. Again, what a surprise ... Each winner was picked by you for their ability to address longevity and income issues boomers face, issues that will only become more common as life spans grow. In particular, creative and effective marketing and educational material was singled out, material advisors actually use with their clients. So congratulations to the winners, and for the sake of your boomer boom·er n. 1. Informal A nuclear submarine armed with ballistic missiles. 2. Informal A baby boomer. 3. A transient worker, especially in bridge construction. 4. clients' retirement wants, hopes and needs, keep doing what you're doing. John P. Sullivan jsullivan@boomermarketadvisor.com |
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