It’s not always easy to determine what’s real and imitation, even with a checklist
For many investors, managing their portfolio is just one of those things in life where they rely on an expert or specialist to take care of things. As for computer setup, auto repair, plumbing and insurance, if it’s Greek to you, then you’re totally dependent on someone else.
When you’re going to cede power to someone who knows, the problem always is how to be sure they’re an expert and not an imitator.. His list provides a unique lens from which to assess where an investment adviser falls on the expert versus imitator spectrum.I always recommend that people ask lots of questions when meeting with their adviser. Taking them off script reveals how much they know about a topic.
Remember, you’re the boss. The adviser is working for you. It’s never a dumb question if you don’t understand what’s being said or how something works.Like most industries, investing has a lot of jargon and acronyms. Again, don’t be afraid to ask what they stand for. And if you keep hearing the same hooks repeatedly, it’s time to be suspicious.
Experts, on the other hand, will tell you all the ways they’ve failed because it’s not “if” some strategies fail, but “when.” Investing is about managing through mistakes and learning from them.The investment industry is particularly prone to this. There are a lot of smart, type-A personalities who come across as knowledgeable about anything you want to talk about. Their expertise and track record in one area miraculously gets transferred to others where they don’t have the same knowledge.
Question Imitator Expert Investment Adviser Market Expertise Someone Tom Bradley Shane Parrish Steadyhand Investment Management
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cutting through the Noise: Is the market headed back to 2021?Many investors are scratching their heads and wondering about the continued rise of stock prices, a run that started in the fall of 2022. Is it real or are things getting carried away?
Read more »
Cutting through the noise: What percentage of your portfolio should be Canadian?We should celebrate what we have in Canada and invest in it – but not to the exclusion of the many opportunities beyond our borders
Read more »
Downtown Calgary residents frustrated by noise from Badlands Music Festival'I'm almost napping at work,' admitted one Calgary resident who lives about three blocks away from the Badlands Music Festival's downtown venue.
Read more »
Calgary officials gathering noise data ahead of 2025 enforcement planOwners are able to make some modifications to mufflers but they still must pass inspections and not exceed noise limits.
Read more »
Ottawa city councillor confronts a daycare over summer camp noise, uses 'profanities'West Carleton-March Coun. Clarke Kelly pictured at the Constance and Buckham's Bay Community Centre on April 19, 2023 where city staff and volunteers filled sandbags in preparation for a major flooding event.
Read more »
Tribunal decision reveals strata's struggle to find strange noiseThis condo building in North Vancouver is the battleground in a fight about a mysterious noise that wound up at the Civil Resolution Tribunal.
Read more »