Investing 2010 – Whom Do You Trust?
Last week the equity markets fell, hard. Have you heard or read a reasonable explanation for this? Mr. ToughMoneyLove hasn’t. He is disturbed yet not surprised about that.
I’m not feeling it this time. Are you? In my book of trust, “we don’t know what caused that” is not even close to being an acceptable response.
Do you get the feeling that some entity is pushing a button that controls the value of your investments? Do you also feel that you don’t know the entity, the location of the button, or what the button controls?
I have that feeling. It’s a sick feeling.
Maybe that entity and that control button are a computer? OK – who is programming the computer? I want his or her name. I want their supervisor’s name. I want to see the algorithms. I want more transparency and explanation than we are receiving.
I don’t trust any of them with our money – government regulators, economists, brokers, market makers, computers or advisers. None of them. They are all named Madoff or Goldman Sachs until proven otherwise.
This is why I am a cautious DIY investor. If the “experts” cannot explain sudden and dramatic movements in the market, they don’t know any more than I do. They aren’t true experts. They are salesmen and hired guns for the salesmen. They aren’t worthy of our trust.
Look out for yourselves, folks. Get educated. Protect your financial future because no one else can or will do it for you.