Some of my worst investment decisions have been instigated by a stockbroker. I have myself to blame, never listen to a stockbroker, it is a pretty easy rule to follow. I neglected my own rules and paid a very expensive price. I ask myself why, I know not to listen to a stockbroker – so why do I?

So, where does this leave me? I have had so many missed opportunities, if stockbrokers know the market so well, then their advice will be invaluable – it is not. If they knew so much about market direction, they would all be multi-millionaires and bestow their extraordinary knowledge of financial markets. 

I listen to guys like Warren Buffet and Charlie Munger, they have consistently engaged in wealth creation and have a loyal following. I am not an investor in Berkshire Hathaway and it is too expensive to buy into now, of course it would have been a great investment at the right time. The Buffett and Munger partnership is legendary, their long-term wealth creation following value investing principles has resulted in a seriously successful business model

So I missed an amazing buy in time during the covid price plunge, I was following the market and asking my broker if it was the time to buy. I had my share purchases I shared with him, he thought they were good but kept telling me to hold off. When the market started moving up I kept asking, he maintained it was a dead cat bounce – it wasn’t. 

So now I have an online brokerage account, I see myself as a loyal customer. However, I have to eventually draw the line, loyalty is a two way deal and I have been neglected as a client. So ironically I have been forced to make a decision and opened an online account. The loyalty I offered wasn’t reciprocated and now I have taken my business elsewhere.