August 21, 2015

Dow Off 500, How Many Financial Guys Have Seen This?

So with the DJIA off more than 500 points today and the correction firmly in place.  The biggest question I have is how many financial 'advisors' are new to the business in the last 7 years and what are they likely to do with their clients money?

USA Today Article - http://www.usatoday.com/story/money/markets/2015/08/21/asian-markets-tumble-wake-us-sell-off/32100683/

The financial is like most industries, they seem to have very bad timing.  They have been hiring new financial advisors at a pace not seen since (you guessed it) 2005.

Now that the DJIA is firmly in correction territory, down 10%, the analysts and Wall Street crowd will all be pointing fingers.  You will be hearing stuff like volatility, correction, bear market and why they think its going lower or higher, what you won't hear is who told you to sell at Dow 18000 because no one did!

Just Sayin'.