I was enjoying a conversation with a colleague this morning about my trip to Florida. One topic that surfaced was, "what's new in the mutual fund universe?"
There is no end in sight for the proliferation of ETF's. The money grab for assets is simply stunning. Buyer beware of the "toxic junk" that is to come in the next 18 months. It will mystify you beyond words. Between the mutual funds with warranties and the buffered return enhanced notes with 13-month principal protection up to a 10% decline in the S&P 500 stock index you will dizzy yourself.
Let me simply give you some free advice if you are a client of a brokerage firm and your broker wants to "protect" your account with the "new" and "latest" structured product.
Just say "NO".
Then call us.
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