Quote:
Originally Posted by Slava
I don’t deny that every industry has some bad actors who do nefarious things. There are a lot of layers of oversight and investor protection for that very reason, and there should be recourse to make sure that no one is left out in the cold (non-licensed and non-registered “advisors” is a whole different story).
Regardless, I’m not entirely clear on that issue as an influence for investment strategy and how people should structure portfolios.
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I know Fuzz is only talking about bad actors, but I also had just a very reputable, but incompetent investment firm lose all of my money in 2008 with their active management. So you don't have to only worry about con artists, you also have to hope you roll the dice with someone competent too. I'll never give my money to an active manager again, I don't care how some on here feel like their profession is beyond reproach.