RE: Let me introduce myself...

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Let me introduce myself...

in introduceyourself •  6 years ago 

Greetings! I'm always looking for other quality hedges to place some of my wealth into. It's not easy to decide even with a lot of knowledge (not saying I have it). A lot of my wealth is given to "wealth managers." Can I trust them though? Nope. That's why I only give a little to each firm. It protects me to keep the piles smaller. I never want to have too much in one basket. Now that you no longer work officially as a financial advisor, are you free to give advice without worry?

I'll give you a 100% upvote for some much deserved reputation, and I look forward to learning more from you in the future. If you ever have any questions about residential security or private investigation, I'd be happy to help you in return.

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Click on the teal "selecting them" text.

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https://steempeak.com (If you're not already using this site, I highly recommend you do. It has a much better interface to the blockchain than the default Steemit.com site.)

https://steemian.info/signup-faq (This site is by @ drakos and has a ton of good information for new users to help them get started.)

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https://steem.makerwannabe.com/ (This site will tell you who follows you, who unfollows you, and who mutes you. It is great for meeting new people too. I regularly check it to see who has followed me and to see if I should follow them back.)

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Wow! Thank you, @finnian, for the big upvote and the detailed tips! I have to be careful about giving financial "advice", because there's no way for me to know if the advice is suitable for every single person who reads the post. So I can tell everyone about a financial service and what I like about it, but I can't tell them it's right for them. That ultimately has to be their decision. If you reply with questions about your specific situation, I'll be happy to tell you what I know and give you my thoughts, but I'm not going to pretend that I know/understand you & your circumstances better than you do.

That being said, I don't blame you for your reluctance to commit all of your money to a single wealth manager. Instead of wealth managers, I use subscription services that I've found provide consistently good trading/investment advice. It's up to me to execute the trades myself, but I feel like I have my money in multiple top-quality hedge funds for a tiny fraction of what it would cost to contract the services of just one hedge fund.

  ·  6 years ago (edited)

I've had a few friends who have suggested I learn more about trading and the markets, but my passions are elsewhere. I'd much rather pay an expert, who has that as their passion, to do that work for me. :)

I've looked into many different ways to invest. Right now though I'm avoiding the markets in general. They are way over valued, and I believe we are long over due for a massive correction. I'm not leaving my money on the table to be taken. ;-)

One of the wealth managers I hired and his firm is putting my account funds in emerging markets. It's a gamble for sure, and I may or may not make a fortune when things go South as they believe they will. Time will tell though.

I sleep soundly at night though since they only have a fraction of my wealth.

Just FYI, you can use professional advice to invest on your own in the markets, profitably and with low risk, without making a full time job of it. I'll be talking more about this in future posts.

Also, if I've understood you correctly, one of the wealth management firms you're working with has the money you've entrusted to them in emerging markets because they expect that to be profitable when things "go south". If that's the case, then you might want to get clarification on their thinking, because emerging markets fell even more than the U.S. market in the financial crisis of '08-09, and things went south for emerging markets again (though not as badly) in 2011-2016, and some would argue that things have been going south for them yet again since the end of January.

I should have clarified. They are betting against the USD long term and are investing in things that will at least maintain their value if not increase in value when the dollar dies.

Do you do any peer to peer lending like prosper.com and lendingclub.com? I was making solid returns there until the economy turned for the worse. Lendingclub.com was wonderful, and I was getting a 16% annual return there for the first couple years. Lately though so many more people have been defaulting on their debts that I'm drawing down my accounts on both websites. I expect things to get far worse, so that will mean far more defaults.

If you don't mind, I'd like to know what you mean by "quality hedges". I find that "hedge" means different things to different people. To some, it's "something that will be valuable if something else (such as the stock market or the U.S. dollar) collapses", and to others, it's "something that will make me money without the risks of the stock market". In any case, knowing what you and others are looking for will be helpful to me in writing content that people find useful.

I'm probably not using the term appropriately for the people in your line of work. To me it just means spreading my risk around to a lot of different bets. After looking it up, I'll change how I use the term. Here's a good summary I found:

Hedging is often unfairly confused with hedge funds. Hedging, whether in your portfolio, your business or anywhere else, is about decreasing or transferring risk. Hedging is a valid strategy that can help protect your portfolio, home and business from uncertainty.


Source: https://www.investopedia.com/articles/optioninvestor/07/hedging-intro.asp

See, I've already learning something because of you! LOL

Glad to be of service! :) By the way, I'm not going to be the "jargon police" who gets on people's case for not using financial terminology correctly. In fact, one of my goals is to liberate the conversation as much as possible from financial industry jargon.

Excellent!

No, I haven't done any P2P lending. Precisely because I've been concerned over the risk of default.

The two I've used work well enough. They have the same principle banks have built into the system. Most people pay their debts back, so you lend at a rate high enough to account for the minority who do not pay. As long as the world doesn't come to an end, you always make money. It just isn't very much these days. My account was down to 8% a year ago, and now it is down to about 6%. Still, that's a profit, but it just isn't enough for me to warrant keeping my money there anymore. I also believe a lot of economic hardship is coming, so P2P is definitely not worth the risk for a while. Have you heard of how people are getting rich from trailer park rentals? I suspect it has the same principle built into it as the P2P. Again, most people pay their rent. Get enough rentals, and you're golden. :)

@Finnian, where were you when i got started?!

haha, trying to figure out all the stuff I've shared above I bet. :)