When Resource Stocks Are This Bad, it’s Time to Buy…
The financial services industry is like no other.
We don’t say that in praise.
It’s like no other in a bad way.
It’s a pompous and self-important industry.
Most financial advisors think the best way to help their clients is to ‘blind them with science.’ That’s junk. Investing isn’t a science; it’s common sense.
That’s something of which most advisors are in short supply…
We’ve long had the feeling that most financial advisors aren’t in the industry to help people make money; they have other motives.
They want to wear the sharp Italian suits.
They want to wear the crisp English shirts, and the fine silk ties.
But most of all they want to make themselves sound smart whenever they ‘talk finance’ with anyone. You only have to watch Bloomberg TV or CNBC to see this play out.
Lots of stern looking faces with furrowed brows making it clear that only super smart people can understand what they’re saying. If you’re just an everyday investor then don’t even bothertrying to understand it, because you won’t.
As we say, there’s no other industry like it.
Plain English investing
When you hear professionals from other industries on TV — whether it’s a medical professional, an astronomer, or nuclear physicist — they seem to make an effort to put things in simple terms.
They want you to know what they’re talking about.
If only the finance industry were like that. Instead you get central bankers, fund managers, analysts and stockbrokers talking all sorts of nonsense, using terms and jargon no one else understands.
Rather than hoping you’ll understand what they’re saying, they hope you’ll be awestruck by how smart they sound.
Except they don’t sound smart. They sound like pompous idiots.
So it’s a good job that every now and then you get a finance professional on the goggle box who puts it simply. It’s probably a sign of someone who is smart, who knows they’re smart, but doesn’t feel the need to show off about it.
That’s our guess anyway.
That’s the feeling we had yesterday when watching a brief five-minute interview with legendary investor and fund manager Mark Mobius.
‘Go where others fear to tread’
Mobius is the executive chairman of the Templeton Emerging Markets Group. Templeton is one of the biggest funds management firms around.
Mobius has the right idea when it comes to investing. He makes it sound nice and simple, which of course for the most part it is.
Read the rest of this article at Money Morning
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