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My gosh, did you see all the things our readers said on my new blog yesterday?
We’re already up to more than 3,400 posts, and more are pouring in by the minute!
Nothing could have prepared me for such an overwhelming response! And so, so many “thank-you” notes!
Abe writes that, thanks to our warnings, he only lost about “35 bucks” in his 401k when stocks crashed. “You guys are great and have played a major role in my financial life,” he says. “God bless you.”
Thank YOU, Abe!
Michael writes “Dr. Weiss and his team seem to be the only ones that know what they are talking about.”
Thank you VERY much for the compliment and I’m glad we’re helping you! But just for the record, I can name several colleagues and friendly competitors who also saw this crisis coming. It’s the folks on Wall Street who missed it.
Scores of other readers echoed these sentiments as well. So my warmest thanks go out to Bonnie, Jesse, T. Vise and many, many others. Knowing we’re helping you is by far the greatest reward we could hope for!
Equally important is the fact that my new blog is achieving its primary mission beyond my wildest expectations — to have more of a two-way conversation with you, toward the goal of helping you get what you need to protect and grow your money in this unusually dangerous environment.
That’s why I asked you to tell me about your #1 obstacle to growing wealth, and your response is both disturbing and heartening.
Each individual comment is unique and special. But allow me to express your major concerns in my own voice:
Your first major concern:
“I can’t trust Wall Street anymore! It’s not just because of outright frauds like Madoff. I can no longer trust that brokers are making recommendations that they personally believe in — let alone recommendations that they’d follow with their own money.”
For example, JS says his #1 obstacle is that “Wall Street crooks hustling funds and trading programs” are bleeding him dry.
James, who has been retired ten years, writes “I can tolerate risk, but not dishonesty.”
Leon simply says, “I don’t know whom to believe.”
My comment: I feel your pain! But bad behavior is rarely the fault of individual brokers. Rather, it’s ingrained in the culture of most Wall Street firms who, unfortunately, often train and incentivize brokers to say whatever it takes to keep you in the market. That’s not illegal. But it’s also not honest.
Your second major concern:
“I’m frozen by market uncertainty, confusion and fear! I’m so disoriented right now, I’m just letting my money sit, and possibly, rot.”
Marvin, Al, Thaler, Janice, Michael, Tony, Ned, Shahzad, Gary, and hundreds of others express a related view.
Don, Richard, Florida Jim and many others note how the advice they’re getting is so contradictory and disjointed.
My response: If you’re confused, you’re not alone. The most seasoned experts on Wall Street and in Washington are equally — perhaps even more — confused. No one under the age of 90 has ever had personal experience with a crisis of this magnitude.
I haven’t either — but I am very grateful that my father helped me live through America’s First Great Depression vicariously, making it less difficult for me to help you through this one.
Your third major concern:
“Everything I touch seems to blow up in my face! My #1 obstacle is buying the right investments at the right time.”
James, Kat, Michael and hundreds of others say the problem isn’t so much WHAT they’re buying as WHEN they’re buying it.
And many want to know: “How will we recognize the true, rock bottom of the market when it comes?”
My quick answer: The bottom will come when the overwhelming majority of advisers, experts and investors sound like a Monday morning Money and Markets.
My detailed answer: I promise to provide it in the days ahead.
Your fourth major concern:
“I need a practical way to grow my money steadily and securely in a bear market! Despite my frustration and confusion, I am looking not just to survive, but also to grow my wealth. The trouble is I lack the confidence and the tools that might give me that confidence.”
David writes: “I am a firm believer in the idea you can make good money in any market. The trick is understanding the short term trends and being able to move quickly. As a novice investor, my biggest barrier is experience, knowledge, and having the right tools.”
So Here’s an Idea and …
The New Question of the Day:
What kind of investment-selection and
timing strategies would give you
more confidence to invest right now?
What knowledge or skills do you think might help you make better choices than the ones brokers and Wall Street pros are recommending?
What steps could you take to lower your risk without lowering your profit potential when you buy an investment? Is there anything you’re not doing that you feel you should be doing?
We — and our readers — are all ears. Just click here to share your answer with us.
Good luck and God bless!
Martin
About Money and Markets
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Money and Markets (MaM) is published by Weiss Research, Inc. and written by Martin D. Weiss along with Tony Sagami, Nilus Mattive, Sean Brodrick, Larry Edelson, Michael Larson and Jack Crooks. To avoid conflicts of interest, Weiss Research and its staff do not hold positions in companies recommended in MaM, nor do we accept any compensation for such recommendations. The comments, graphs, forecasts, and indices published in MaM are based upon data whose accuracy is deemed reliable but not guaranteed. Performance returns cited are derived from our best estimates but must be considered hypothetical in as much as we do not track the actual prices investors pay or receive. Regular contributors and staff include Kristen Adams, Andrea Baumwald, John Burke, Amber Dakar, Michelle Johncke, Dinesh Kalera, Red Morgan, Maryellen Murphy, Jennifer Newman-Amos, Adam Shafer, Julie Trudeau and Leslie Underwood.
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