Stock Broker’s Offer: In our endeavour to provide better services we at the beginning of the New Fiscal Year offer Market Analysis a premium service to your Top Ten Clients for a period of one month for free. This will allow them to take informed decisions which are backed by our strong research, which shall be mutually beneficial. We request you to send the name and mobile numbers of your Top Ten Clients thus we can start the service for them. Also note client wanting to subscribe the service can do so by submitting the attached form.
Mr. Gerard Colaco: We thank you for your offer of market analysis for our top ten clients for a period of one month for free. We regret to inform you that we will not be availing of your offer for a minute, let alone a month! Our client would much rather pursue simple buy and hold strategies in well diversified portfolios of blue chip stocks for a period of at least five years.
From what I have seen in my 23 years in the investment advisory services business, investors who have used simple common sense and thoroughly disregarded research, have performed far better than investors who have depended on brokers “research”.
Warren Buffett puts it quite well. He says, “We’ve long felt that the only value of stock forecasters is to make fortune tellers look good”.
Burton G Malkiel, who heads the department of economics at Princeton University and who is a director of Vanguard Mutual Fund, puts it equally well. He says, “There are only three kinds of financial prognosticators – those who don’t know, those who don’t know they don’t know, and those who know they don’t know, but get paid big bucks to pretend they know”.
Certainly, I wish your research ventures all the very best. As far as using your research for our clients, whether they are ‘top ten clients’ or not, it is strictly thanks, but no thanks!