I have beaten the S&P 500 over the last 20 years with 33% less standard deviation.
That is why I have been in this industry as long as I have. I provide high end wealth management for clients with at least 500K or more in investable assets who simply want to live and not do any of this nor deal with the market.
It is a service people who can see and appreciate that value and are more than willing to pay for.
You fall into the group that simply does not need me. But don’t generalize like this stuff is so easy.
It's not.
And index funds get murdered in downturns. Far more than the portfolios I have constructed and managed.
When you buy an S&P ETF they have to buy every stock in the S&P.....regardless if it is great or crap. Then when there is a run on liquidations.....the index fund manager must sell to see redemptions and this is why you are seeing even crazier volatility than ever.
A lot of people think they can index and are fine......until we get events like this.
Glad you can handle it yourself.....but indexing is not the long term answer for most people. They cannot handle the swings at all. They need professionals handling their wealth (and emotions yes that is a huge thing regardless of what you may think) and also doing complex planning and giving them different buckets for income when they harvest the crops. There is a lot more to managing wealth than picking stocks. I won’t go into it here.....but I am glad people still value what I can bring them.
I have been getting the best phone calls I can get the past week. People opening their statements.......and telling me that they are thrilled they were not down nearly as bad as they thought with all the hoopla on TV everyday.
That is why they pay me.
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What’s the deal here?
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you're welcome?
