I have overheard several conversations of an advisor (a CFP, no less) in the last few days. This clueless advisor is telling clients that the market is doing what the market does and if they have cash free they should buy more. These conversations are not based around dollar cost averaging.
This advisor has absolutely no concept of economics, fundamental valuations, or technicals.
I feel bad for the clients, but the fact that many advisers have these views makes it easier for me to differentiate myself.
-s
Update 10/20/08: In light of what the markets have done this year, this is a very important post. I know that the advisor in question had clients "invest" in China etc. over the last two years.
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