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Josh Brown: Only the 'Delusional and Deranged' Will Tell You What's Going to Happen With the Markets
All financial advisors worth their salt will tell you that their job is to help clients plan for their financial futures, not try to outsmart the stock market.
It’s this distinction that separates a financial advisors from a mere stock picker. The advisor (or at least the good ones) will take a holistic view of a client’s portfolio and build a plan to help the client reach his or her goals.
In addition to being one of the most popular finance bloggers, Josh Brown is also a financial advisor. And in a blog post on Sunday, Brown decided to address the volatility currently roiling the markets with the ominous headline: Be Terrified.
What Brown suggest investors to be terrified of is not the volatility, but rather the “people who are so certain of what higher volatility means for the markets.” There is, Brown writes, “sheer arrogance and borderline mental illness required for a person to assume that they can accurately foretell the actions of a hundred million investors around the world.”
Like most of what Brown writes – at least in our humble opinion – this post is insightful and entertaining. But it’s also filled with some especially top-notch rhetorical gems, such as asserting that if there were some answer to figuring out investment markets, “we’d have all had the whisper of it imprinted on our very souls.”
And then this:
You will meet all sorts of people bearing rules, formulas and equations for why this thing should most assuredly follow that thing – as though there is some fundamental, physical law that can merely be looked up in a library and adhered to by anyone who bothers to search. Be terrified, for you are in discussions with the delusional and the deranged.
The whole thing is worth a read, which you can check out here.