Comments on: In praise of smart guys http://www.greaterfool.ca/2008/12/16/in-praise-of-smart-guys/ Book and Weblog - Authored by Garth Turner Thu, 09 Feb 2012 03:27:33 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Patrice http://www.greaterfool.ca/2008/12/16/in-praise-of-smart-guys/comment-page-3/#comment-12159 Patrice Thu, 18 Dec 2008 17:05:50 +0000 http://www.greaterfool.ca/?p=1097#comment-12159 Where did I say to go to the bank for investment advice? — Garth ------------------------------- nowhere; but it's a reasonable assumption for many people. hence the point of my previous post. <em>Not a reasonable assumption at all. Banks sell bank products. -- Garth</em> Where did I say to go to the bank for investment advice? — Garth
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nowhere; but it’s a reasonable assumption for many people.

hence the point of my previous post.

Not a reasonable assumption at all. Banks sell bank products. — Garth

]]> By: Patrice http://www.greaterfool.ca/2008/12/16/in-praise-of-smart-guys/comment-page-3/#comment-12155 Patrice Thu, 18 Dec 2008 16:43:41 +0000 http://www.greaterfool.ca/?p=1097#comment-12155 #97 say: to invest or not to invest is an old question --------------------------------------- Yes, in a relatively stable and growing economy; not in a falling and shrinking one. Obviously. Garth; This the kind of person that you can really hurt by giving out advices like this. For them, things are very confusing. There is just too much information to compute for them in order to make a reasonable assessment of the situation and take reasonable decisions based on the assessment. Based on your article, some people could easily go to a bank and take a home equity-secured variable rate line of credit and go to whatever TD Canada adviser and buy a whole lot of mutual fund based on the TD adviser opinion. In a shrinking economy, this could very well be a disaster and you could end up be somewhat indirectly morally responsible for a nice family to loose maybe up to %70 of their life savings. Tragedy! It's not about being a wuss or not; getting in the market right now, without an expert mind is potential suicide. Much more risky than in a normal, slowly growing and relatively stable economy. I believe that if you emphasized the expert level required in the hiring of the investment manager, it would have been safer; but by using words like "smart guy", it is enough to confuse many people into trusting this random TD Canada adviser guy. I don't want to be annoying, I'm just worry about this potential dramatic turn of event and you not being able to sleep at night because of it. <em>Where did I say to go to the bank for investment advice? -- Garth</em> #97 say:
to invest or not to invest is an old question
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Yes, in a relatively stable and growing economy; not in a falling and shrinking one. Obviously.

Garth; This the kind of person that you can really hurt by giving out advices like this.
For them, things are very confusing. There is just too much information to compute for them in order to make a reasonable assessment of the situation and take reasonable decisions based on the assessment.

Based on your article, some people could easily go to a bank and take a home equity-secured variable rate line of credit and go to whatever TD Canada adviser and buy a whole lot of mutual fund based on the TD adviser opinion.

In a shrinking economy, this could very well be a disaster and you could end up be somewhat indirectly morally responsible for a nice family to loose maybe up to %70 of their life savings.
Tragedy!

It’s not about being a wuss or not; getting in the market right now, without an expert mind is potential suicide. Much more risky than in a normal, slowly growing and relatively stable economy.

I believe that if you emphasized the expert level required in the hiring of the investment manager, it would have been safer; but by using words like “smart guy”, it is enough to confuse many people into trusting this random TD Canada adviser guy.

I don’t want to be annoying, I’m just worry about this potential dramatic turn of event and you not being able to sleep at night because of it.

Where did I say to go to the bank for investment advice? — Garth

]]> By: Future Expatriate http://www.greaterfool.ca/2008/12/16/in-praise-of-smart-guys/comment-page-3/#comment-12139 Future Expatriate Thu, 18 Dec 2008 14:32:07 +0000 http://www.greaterfool.ca/?p=1097#comment-12139 People won't be able to afford alcohol. Not even to make their own. The only thing that kept alcohol going during the 20th century depression was prohibition. People won’t be able to afford alcohol. Not even to make their own. The only thing that kept alcohol going during the 20th century depression was prohibition.

]]> By: john http://www.greaterfool.ca/2008/12/16/in-praise-of-smart-guys/comment-page-3/#comment-12120 john Thu, 18 Dec 2008 05:11:38 +0000 http://www.greaterfool.ca/?p=1097#comment-12120 "in praise of ther smart guys"--my comment to that is-no one in this generation can predict the misery that is going to happen--in fact there is not a stock on market that i would invest a dime in!--other than the Breweries and the distilleries because when times get tough people drink to escape their miseries! “in praise of ther smart guys”–my comment to that is-no one in this generation can predict the misery that is going to happen–in fact there is not a stock on market that i would invest a dime in!–other than the Breweries and the distilleries because when times get tough people drink to escape their miseries!

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