In My Opinion
Investment advisors, stockbrokers, and individual investors continuously seek
the nonexistent wellhead of the 'fountain'' of perfect investment recommendations,
investing strategies, and, investment timing sources in the mistaken belief that
'best' investing performance can only come from better investment ideas while
being unwilling to acknowledge the fact that they themselves are most often the
weakest investing performance cog.
investors' monthly statements and investment portfolios most often look much like
the 'Winchester Mystery House' without consistency, discipline, direction, continuity,
control, or theme; neither structurally sound nor competitive; random, isolated,
sometimes frequent transactions with no clear investing goal in mind; adrift,
results more by chance than by design.
are many types of investments, investing strategies, and investing tools that
are profoundly flawed, fictitious, treacherous, and often predatory.
Portfolio Theory, the
Olestra of advising and investing, and all of its illegitimate relatives
Carlo Analysis, Efficient
Frontier Analysis, Beta,
Asset Allocation, Pie
Sharpe Ratio, and a
distant relative, Technical
yesterday's news as an investment crutch are just other ways to record
and to illustrate investment/investing history without valid analytical, interpretive,
deductive, predictive, or directional investment value because they assume and
suggest, incorrectly, that the financial markets' cycles of the past and the valuations
of underlying investments in the past because they are somehow mysteriously
connected as part of an orderly, sequential financial system will repeat
themselves similarly or exactly in the future as they did in the past in much
the same order and with the same frequencies, durations, levels, relative valuations,
and volatilities; suggesting, contrary to fact and law, that investing hindsight
is, indeed, investing insight and investing foresight absurd, as anyone
who has spent more than a nanosecond in the financial markets would, should know.
If the techniques, tools, and theories surgeons trusted and used were of
the same quality and integrity in their specific fields of medical expertise as
those used by Wall Street, many investment firms, most investment advisors
and almost all individual investors who invest for themselves in their
respective circles of responsibilities, an Apple-A-Day would be a wonder drug,
Ouija Boards and Crystal Balls would be considered advanced medical tools, and
Voodoo, Séances, and Witchcraft would be Pulitzer Prize winning Modern
Medical Theories. Contradictions
selection, investment timing, and investment management are the primary determinants
of investing performance excellence; other contrived investing performance considerations
pale in importance.
Street's modern day individual investor and investment advisor investing solution
in an effort to maintain and expand continuous sources of revenues (commissions
and fees) by leaching off of investor's hard earned capital regardless of results
is to dumb down individual investors and investment advisors by recommending
index funds, ETFs, proprietary investment and investing contrivances, and the
like while abandoning core investments and proven investing styles and strategies
that have consistently built wealth for those who have been alert, uncompromising,
demanding, disciplined, and patient; felony stupid.
Buffett, adding fuel to these fallacious investing fires, is doing a great disservice
to individual investors and investment advisors by recommending that both use
unmanaged investments; in effect, 'Don't do what I did and do to achieve extraordinary
investing performance success and do what I would never do and be mediocre at
eliminate or minimize any of the three is inexcusable investment advising and
Investments: Investment selection is based entirely on past performance which
flies squarely in the face of Wall Street's well known and absolutely true golden
investing platitude; past performance is not an indicator of future investment
Timing: 'Don't even try' is neither a synonym for nor an excuse for
'Difficult to do.'
Management; the essential/critical force that drives, sorts, prioritizes, and
selects the decision making and action taking investing disciplines, rules, procedures,
and processes that determine investing performance outcomes and investing destinies.
prosper, to excel, to convert rhetoric into results, investment advisors and,
in effect, individual investors must piece the investment advising, investing,
and investing performance puzzle together by first developing a unique proprietary
investment advising and investing value; your own prospectus; who you are, what
you represent, what you will and will not do, and how you conduct your business;
why, when, how, and what if Investment Selection, Disciplines, Rules, and
Procedures, Portfolio Management Disciplines, Rules, and Procedures.
WorkStation is an investment portfolio management software tool that will help
you to prioritize investment selection, investment timing, and investment management
and will force you to define, apply, and enforce the investing disciplines, rules,
procedures, and processes that matter, that determine investing performance outcomes.
can't get into trouble.
and the like primarily
as links between the investment advisor and the back office and secondarily as
links to the client perform
only the most basic of portfolio creation and modification operations for you
by letting you create/input investment portfolios, by rebalancing investment portfolios,
by generating client reports (individual,
one dimensional, unconnected, 'this is where you are now' reports'
by performing "back-office" accounting functions, and by generating
and associated reports; more
accounting for what you have done with investment portfolios, but
without the detail of showing the portfolio creation, modification, and management
Investor's WorkStation accounts for every penny, it was never meant to replace
'Advent-like' portfolio accounting software.
WorkStation is a utility program that is intended to be the link between investors,
investment advisors, and portfolio accounting software; 'a client communication,
connection, and performance tool,' if you will, to help investment advisors explain,
demonstrate, prove, and perform their most important responsibility — the primary
reason investors come to them in the first place — the ongoing investment advising
and investing processes to build and to protect capital by creating and processing
suitable, structurally sound, and competitive investment portfolios as investor
investment profiles, the current market conditions, the market outlook, and relative
investment values change.