Today was a nothing day for the metals as we saw the dollar move higher and gold a bit higher with it. Silver held up better than gold. Not much action going into the end of the year. Once the gold desk closed, traders took off.
A little tease of my next book Illusions of Wealth;
Are Financial Advisor’s Needed?
If you are getting up there in age and don’t have a family member to help you with the management of your portfolio or simply don’t have the time to pay attention to your investments, a trusted advisor is invaluable and of course needed.
Also, if older you may need some guidance in making investment management decisions. Having a financially competent friend or relative present during the meeting with potential advisors or sitting along side you during your next meeting with your present advisor may make sense. This may be difficult for some of you as some people like to keep things private from family members. But by opening up a little and including a close relative or friend in making these types of investment decisions it can help protect one’s wealth and at the same time keep you from getting ripped off by some fast talking, likeable advisor who charms you into turning over your money to them where they may not have your best interest at heart.
Most of us don’t do the extra homework to manage our own investments. Even those who think they can do well managing their own investments by day trading or timing investments typically learn the hard way and lose money. As you’ll read later even most mutual fund and hedge fund managers can’t even beat the market. There are of course exceptions and I believe you can be one of them after reading this book.
But let’s take a look at some of the so called experts you see on television or who are respected in their industry and how their predictions have done.
(this is where I begin to critique more of those who are touted on television as experts as to how they really have performed as well as why they push what they push on investors. I devote an entire section on what questions to ask financial advisors before you invest with them, a total of 54 questions that need to be answered of them, and of yourself. Naturally I make recommendations from there as to what you can do on your own with your investments. At least you’ll have the knowledge after reading this book to make good decisions with your wealth moving forward. I leave no stone unturned.
Doug Eberhardt is a 28 year financial services veteran and precious metals broker selling gold and silver at 1% over wholesale cost. Doug has written a book to help investors understand how gold and silver fit into a diversified portfolio, how to buy gold and silver, and what metals to buy. The book; “Buy Gold and Silver Safely” is available by clicking here Contact phone number for Buy Gold and Silver Safely is 888-604-6534
Commodity Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don’t trade with capital you can’t afford to lose. This is neither a solicitation nor an offer to Purchase/Sell futures or options. No representation is being made that any account will or is likely to achieve gains or losses similar to those discussed in this outlook. The past track record of any trading system or methodology is not necessarily indicative of future results.
All trades, patterns, charts, systems, etc. discussed in this outlook and the product materials are for illustrative purposes only and not to be construed as specific advisory recommendations. All ideas and material presented are entirely those of the author.