Here's the difference between being a financial adviser and a doctor:
Markets are zero sum.
It is
statistically impossible for more than half the money invested or not invested in a market to "out perform" the other.
If you are 100% long and the market skyrockets your purchases were met by a seller who is now under invested. If you're 100% long and the market breaks you lose and the seller is whole.
I've used this analogy several times. Let's assume Bill Belichick is the best coach in the NFL. So the 31 teams other than the Patriots "clone" Belichick. Now EVERY TEAM is coached by the "superior" Belichick. What is the combined record of 32 Belichicks at any point in the season? .500 of course. For every game Belichick wins "another" Belichick loses.
So in a "bull market" while one class of investors are mopping up and retiring large another class of
non investors see their purchasing power and access to assets diminished.
Hence criticism of bear markets is elitism at it's finest. Think about it. When home prices were quadrupling-hell my house in Florida was worth almost
forty times in 2005 what my grandpa paid for it forty years earlier-those gains were the equivalent of a modern Marie Antoinette saying "let them live in cardboard boxes."
If CBS wasn't the
poster boy for elitist, leftest cock sucking they'd DIG DEEPER into investment psychology. The "retirement battle" of the middle class is largly private sector workers vs. those unionized, big pension retirees who suck the tit of taxpayers and Big Brother. While Joe Plumber is forced to fund his own retirement, Tomika the Filing Clerk at the Commerce Department is secure in the knowledge that the day she quits after 30 years of non-performing service she'll retire on 75% of her last paycheck.
40k a year in the private sector often means a retirement of zero savings and reliance on Social Security which doesn't kick in until around the time you die. 40k working for Big Brother can mean 30k a year pension kicking in while you're in your mid 50's. CBS de facto FAVORS large government pensions.
Why the tea parties? Because Middle America knows this is a CLASS WAR between public and private.
Quote from Mvic:
Boy, you are cold Cutten 
but I agree, anyone who took big losses was gambling or just not paying any attention to their retirement.
On the other hand I don't agree that financial advisors are like doctors. 90% of financial advisors I have met really have just been salesmen and didn't know what they were talking about, of the other 10% maybe half are were competent but act in thier own best interest rather than that of their clients. My experience in medicine has been the reverse, 80-90% are compentent and act in their patient's best interest, 20-10% don't care and give the rest a bad name. Medical School is a good filter for the something for nothing get rich quick con man crowd.
