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|Subject: Re: Retirement Sob Story||Date: 2/11/2005 10:17 PM|
|Author: investinginstuff||Number: 44519 of 78012|
That was an EXCELLENT, well thought-out post!
I agree that I was harsh in my criticism of people like the guy in the article.
I graduated with a finance degree in December of 1996 (I'm actually older than that, I just took a long time working my way through school). Anyway, all through college we were taught how to value companies. Well, I graduated from college right when the bubble started heating up. It was tough to be in the brokerage business back then because EVERYBODY was an investing expert.
All through the bubble I was telling people that it wouldn't last and couldn't last. They just thought I was nuts. I guess people just forgot about what is important: EARNINGS. You can have the greatest idea ever, but if it doesn't have earnings eventually it will die.
About employees: Congress was supposedly working on something to allow people in employer-sponsored retirement plans to get advice from third parties. I haven't heard too much as to how well that is going. That would be a cool job. Just going around and teaching people about asset allocation and the importance of rebalancing.
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