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Article: Volatile markets teach lessons about investing; Advisers need the discipline to acknowledge a bubble and not invest in it.(News)
- Article from:
- Investment News
- Article date:
- May 26, 2008
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Copyright informationCOPYRIGHT 2008 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Aaron Siegel
Whether they like it or not, advisers have become well-versed in financial manias, panics and bubbles.
In the past year, housing values have dropped, the subprime mortgage market has collapsed, and the auction-rate-securities market has failed, ravaging portfolios and leaving advisers to explain the carnage to bewildered clients.
Several advisers who attended the Investment Management Consultants Association's 2008 Spring Development Conference, held in New Orleans last week, explained what the investment management world has learned from these difficulties.
Howard A. Johnson, Principal
Johnson Scannell & Associates, Bellevue, Wash.
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