Financial Markets Fund Managers "Losing 30%, 40% or More of Your Funds Is Not Competence"
After an unavoidable break from writing for you of almost 6 weeks about financial markets, I thought that I owed you a monster article, and here it is. 'Master Class! It's about Time' has been published by Financial Sense and is available now at Financial Sense or the Danielcode website.
This is a seminal and uniquely important article not only for you but for your children and future generations. So long as we in the free enterprise system continue to regard financial markets as the prime source of future earnings for savings, pensions and superannuation, the large time cycles that rule markets will also rule our fate.
Two financial market collapses since 2000 are now laying bare what I have long warned about. Those handling your investments and pensionsare clueless. And unaccountable. The spotlight is only slowly turning to all time record losses in pensions and savings as a result of the international stock markets slump. The city of Los Angeles is insolvent and asking for a TARP bailout to make good those losses.
All over the world financial markets; private, public and sovereign pension funds have taken massive hits, far beyond the ability of contributors to ever repair, not to mention personal retirement and savings accounts which you will know all about.
Through it all, managers tasked with investing your money have sanguinely maintained that it's a global cycle and not their fault.
Nothing could be further from the truth!
Those seeking your trust and earning extravagant salaries and bonuses for so doing, have a fiduciary duty to act in your best interest. Don't let your eyes glaze over with the humbug of transparency, accountability and fiduciary duties. It's not so. It's all part of the great schmooze to part you from your hard earned money.
The first and primary fiduciary duty that a money manager owes to you is competence. Losing 30%, 40% or more of your funds is not competence. It's negligence. The universal belief, conveniently adopted by politicians,and business leaders and wholly embraced by an acquiescent media, is that nobody could have know that the biggest banks in the world were insolvent and house prices in the greatest bubble in history.
What rubbish. I have written for the past 18 months of what was to be. Now for the first time ever, I show you how predictably and precisely those events unfolded and more importantly how you could have known that disaster was about to strike Equity markets in October 2007. To the day.
Start a revolution. Post this article wherever you can. Show your fund managers and make them read it. Shove it down your politician's throats. Demand that they explain why they don't know this stuff. It is vital knowledge for investors, savers and traders alike.
Make sure that your children and friends read and understand what causes market tsunamis and when 'it' happens. This will all happen again sometime, and sooner than you think. Next time you had better be ready. Absent this knowledge you are dedicating yourself to poverty. But it's your choice.
Time >> Market Time is Different To Our Normal Concept of Time, John Needam bests Gann....
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May 17, 11:42am GMT
Read Master Class -- It's About Time -- A Monster Must Read Article
I invite you to visit the Danielcode website where we strive continually to disprove the myth of Random Walk. Ask your broker, financial advisers and pension fund managers to study this article on Danielcode “Time”. And show your politicians. If a humble country Lawyer from Down Under knows financial markets stuff, isn’t it about time that those who handle your money knew it too? Now that would have saved everyone a lot of grief and heartache.
