Today I met with some clients who I've had for years. Throughout this time I've known I had only a VERY small portion of their assets because their other advisor was some brother's/cousin's/college roommate's/exwife's neighbor. Eh, it's just part of the gig.
Anyway, we were going over their money with me which they are satisfied with. They are extremely dissatisfied with the rest of their portfolio which I again gave some suggestions for. We're talking 40% losses at this point. I made my case, they made the right sounds. This should be a slam dunk. Just pull out the pen, make some scratches and get on the path to recovery.
Then they started talking about this video "the secret". they completely lost me while they were churning through this bullshit, but by the end of it they'd convinced themselves they didn't need to change their investments - just their attitudes. WTF?!? Being smiley and cheerful won't make shitty stocks bounce folks.
People are nuts.
