Many financial advisors recommend that you diversify for your own protection. What they fail to tell you is that it is also for their protection. Since most financial advisors cannot tell you exactly which stock or mutual fund is a great investment, they tell you to buy a bunch of them.
From my experience, the best advisors help in three ways: encourage you to look at the problem or opportunity from multiple angles; help you balance the tug of the short-term with important long-term priorities; and ask the tough questions you need to know to reach the best solution.
Empathically accurate perceivers are those who are consistently good at 'reading' other people's thoughts and feelings. All else being equal, they are likely to be the most tactful advisors, the most diplomatic officials, the most effective negotiators, the most electable politicians, the most productive salespersons, the most successful teachers, and the most insightful therapists.
The first weekend after the attacks of September 11, George W. Bush had a meeting at Camp David with his top advisors, including Colin Powell, the secretary of state. And there was a lively debate about Iraq policy, in which some people from the Pentagon were arguing that the war against terrorism should include Saddam Hussein.
you can not fully read a book without being alone. But through this very solitude you become intimately involved with people whom you might never have met otherwise, either because they have been dead for centuries or because they spoke languages you cannot understand. And, nonetheless, they have become your closest friends, your wisest advisors, the wizards that hypnotize you, the lovers you have always dreamed of. -Antonio munoz molinas, "the power of the pen
As you become more senior in your career, it can be thin at the top - It's harder and harder to get unbiased and direct feedback when making decisions. You want people who will speak truth to power. Say no to any 'yes men or women' on your personal board. When you face a personal crossroads, you need honest advisors.
I felt that let's understand that all these people are just human, even the advisors in the White House, they're just real people trying to make real decisions and they make mistakes like anybody else does under pressure. If you can get that with these great performances then you claim it on that level as well.
We [ with Russel Crowe] had an Arabic coach there [ in the Body of Lies] that was really helpful, because it was more so than any accent. You have to be so exact, and there's different dialects of Arabic from country to country so it was really, really difficult to tell you the truth. And one of the hardest things I've ever had to do language-wise, because it comes from the throat. It's different. And also learning about the customs and the culture and all that, so we had advisors for that sort of thing.
Engel & Volkers real estate advisors are specifically - and continuously - trained to understand and handle the needs of property transactions in the premium segments of their markets. We keep our shops small, with truly talented professionals who are choosing Engel & Volkers because of the extensive connections and support we provide them.
One gets the impression that Elvis Presley does what his business advisors think will be most profitable. My advice to them: Put Elvis Presley in the studio with a bunch of good, contemporary rockers, lock the studio up, and tell him he can't come out until he's done made an album that rocks from beginning to end.
This report has been difficult to write because it involves something that doesn't officially exist. It is well known that ever since the first flying saucer was reported in June 1947 the Air Force has officially said that there is no proof that such a thing as an interplanetary spaceship exists. But what is not well known is that this conclusion is far from being unanimous among the military and their scientific advisors because of the one word, proof; so the UFO investigations continue.
Edward J. Ruppelt
Joschka Fischer was a Green Party politician and Germany's foreign minister. We hired Mr. Fischer, as well as former US Secretary of State Madeleine Albright, as advisors because we, as an automaker, want to know, for example, how new emissions laws will develop in the United States, Europe and Asia. Fischer and Ms. Albright have diverse contacts worldwide. They can call our attention to trends early on, information from which we can benefit.
Perhaps the most important job of a financial advisor is to get their clients in the right place on the efficient frontier in their portfolios. But their No. 2 job, a very close second, is to create portfolios that their clients are comfortable with. Advisors can create the best portfolios in the world, but they won't really matter if the clients don't stay in them.
There are a few investment managers, of course, who are very good - though in the short run, it's difficult to determine whether a great record is due to luck or talent. Most advisors, however, are far better at generating high fees than they are at generating high returns. In truth, their core competence is salesmanship. Rather than listen to their siren songs, investors - large and small - should instead read Jack Bogle's The Little Book of Common Sense Investing.
At one o'clock, the ever-logical Right-Eye Grand Steward woke up to discover that during his sleep his left-eyed counterpart had executed three of his advisors for treason, ordered the creation of a new carp pool and banned limericks. Worse still, no progress had been made in tracking down the Kleptomancer, and of the two people believed to be his accomplices, both had been released from prison and one had been appointed food taster. Right-Eye was not amused. He had known for centuries that he could trust nobody but himself. Now he was seriously starting to wonder about himself.
Investors, of course, can, by their own behavior make stock ownership highly risky. And many do. Active trading, attempts to "time" market movements, inadequate diversification, the payment of high and unnecessary fees to managers and advisors, and the use of borrowed money can destroy the decent returns that a life-long owner of equities would otherwise enjoy. Indeed, borrowed money has no place in the investor's tool kit.
Through more than 200 years in private banking, The Bank of New York has gained a collective wisdom that supports high-net-worth individuals in planning, investing and transitioning their wealth. Our high net worth clients will value access to unbiased advisors who help manage their financial strategies and deliver objective solutions that meet their wealth management goals.
Look everywhere. There are miracles and curiosities to fascinate and intrigue for many lifetimes: the intricacies of nature and everything in the world and universe around us from the miniscule to the infinite; physical, chemical and biological functionality; consciousness, intelligence and the ability to learn; evolution, and the imperative for life; beauty and other abstract interpretations; language and other forms of communication; how we make our way here and develop social patterns of culture and meaningfulness; how we organise ourselves and others; moral imperatives; the practicalities of survival and all the embellishments we pile on top; thought, beliefs, logic, intuition, ideas; inventing, creating, information, knowledge; emotions, sensations, experience, behaviour. We are each unique individuals arising from a combination of genetic, inherited, and learned information, all of which can be extremely fallible. Things taught to us when we are young are quite deeply ingrained. Obviously some of it (like don't stick your finger in a wall socket) is very useful, but some of it is only opinion - an amalgamation of views from people you just happen to have had contact with. A bit later on we have access to lots of other information via books, media, internet etc, but it is important to remember that most of this is still just opinion, and often biased. Even subjects such as history are presented according to the presenter's or author's viewpoint, and science is continually changing. Newspapers and TV tend to cover news in the way that is most useful to them (and their funders/advisors), Research is also subject to the decisions of funders and can be distorted by business interests. Pretty much anyone can say what they want on the internet, so our powers of discernment need to be used to a great degree there too. Not one of us can have a completely objective view as we cannot possibly have access to, and filter, all knowledge available, so we must accept that our views are bound to be subjective. Our understanding and responses are all very personal, and our views extremely varied. We tend to make each new thing fit in with the picture we have already started in our heads, but we often have to go back and adjust the picture if we want to be honest about our view of reality as we continually expand it. We are taking in vast amounts of information from others all the time, so need to ensure we are processing that to develop our own true reflection of who we are.