From: joetaxpayer 
Newsgroups: misc.invest.financial-plan
Subject: Re: Broker or go it alone?
Date: Sun, 18 Jun 2006 12:10:36 -0500
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Mechanics of Money Financial BBS wrote:
> If you choose to go it alone, you will lose money. 


M/M - forgive me if you feel the edit took you out of context.

I must say, I disagree pretty strongly with the above remark. If you add 
the qualifier "if you're not willing to invest the proper amount of 
time, first educating yourself, and then managing your money...." I'd 
lean toward agreement.

I also find W.Wells' comment "I feel that if you can make the money you 
can invest it. I tried advisors
and brokers, thinking that they may know something that I don't. Believe 
  me they don't." to be dead on target.

Before the tech boom, I was a bit heavy in tech stock, as that was my 
interest and focus. Talking to coworkers, I found that their advisors 
were talking them into those stocks right into the point that it was 
clear to me the prices were rediculous (if EMC continued to grow 10 
years hence as it did ten years prior, its value would have approached 1 
trillion dollars?) As I listened to the buzz of my coworkers, I quietly 
bailed. After the crash, I never did tell them that I got out mostly 
based on the fact that they got in.
Of course, three advisors don't represent an industry, but to WW's 
point, as your wealth increases, even a 1% annual fee will soon be a 
sizable sum, and given the probability that the next 20 years will bring 
  lower returns than the past 40 years, I'd rather save that cummulative 
20% and go it alone.

JOETAXPAYER.COM