Feedback in (heavy sarcasm):
Good grief Mike…
What did you tell our Chinese friends?
Buy all time highs… with a stop!
Let’s hope the Chinese government will honor those STOPs. There’s a lesson there somewhere. I’m really enjoying your podcasts. Personally, I’m having trouble managing my clients’ monies in this whipsaw market. My STOPs are going off like firecrackers and then I watch the market spring back up. Most of my clients are in fee accounts so commissions aren’t killing them but the whipsaws are. Frustrating, but it ain’t supposed to be easy is it? I clearly need to use more non-equity ETFs. My model is way too seat-of-the pants and I need a true system.
I do appreciate you understanding that there do exist financial advisors like myself who do not subscribe to the buy and hope, multi-mutual fund nonsense propagated by the big bank-owned firms. I’m trying like crazy to use trend following as a bedrock approach to managing the risk of my clients and capturing the maximum gain. I suspect there’s a much higher percentage of trend following advisors at independent firms like [name] vs. Merrill Lynch. As a former [name] (I’m originally an [name] advisor) advisor, I know first-hand the amount of Kool-Aid being swilled.
Thanks again for all you do,