What Have You NOT Done For Me Lately?

My colleagues and I frequently discuss the investment choices that we did NOT make for clients and, in hindsight, express relief in our decision.

As is obvious to many experienced investors, Wall Street is a “product factory” and most are for the benefit of the provider versus the investor.  But, they typically come with very compelling pitches.  From hedge funds, to liquid alternatives, to structured notes, we have seen a plethora of new vehicles that by and large, we have rejected.

In the past several weeks, the press has been reporting on varying failures in this space.  Hence, it is gratifying when these instruments begin to implode to know that we vetted them and concluded they were inappropriate for most clients.

All questions or comments are welcomed.

Bob Bilkie, CFA®