Does anyone else think this is weird? (Full Version)

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DarkSteven -> Does anyone else think this is weird? (9/27/2009 9:55:43 PM)

I get regular emails from Fidelity.  I assume that other money management firms send out regular investment advice emails as well.

They pretend that nothing ever happened regarding my money which they lost.  No "Whoops - sorry!"  No acknowledgment that they blew it.  Just giving me investment advice like nothing ever happened.

Who else has the brass balls to do this?  Does the restaurant that gave you ptomaine poisoning still invite you back?  Does the dentist that pulled three wrong teeth tell you that he can put in dentures to make it look great?

Grrr....



sappatoti -> RE: Does anyone else think this is weird? (9/27/2009 10:03:40 PM)

I did receive personalized multi-page letters, sent by USPS mail, from Ameriprise that acknowledged the market conditions, tried to explain what was happening, and invited me to consult with my advisor if I had any specific concerns regarding my account. I think I received three such letters, mostly the same idea but each written specifically for the quarter in which they were sent. As my portfolio mix is moderately aggressive, I pretty much expected the losses I got but, because of my mix, the rebound is coming along fairly well at this point.

Those letters did not, however, contain an apology for the losses I had, nor did I realistically expect that they would.

With regards to the restaurant and dentist... around here where I live... yes, they'd be brazen enough to send those letters.



popeye1250 -> RE: Does anyone else think this is weird? (9/27/2009 10:58:03 PM)


quote:

ORIGINAL: DarkSteven

I get regular emails from Fidelity.  I assume that other money management firms send out regular investment advice emails as well.

They pretend that nothing ever happened regarding my money which they lost.  No "Whoops - sorry!"  No acknowledgment that they blew it.  Just giving me investment advice like nothing ever happened.

Who else has the brass balls to do this?  Does the restaurant that gave you ptomaine poisoning still invite you back?  Does the dentist that pulled three wrong teeth tell you that he can put in dentures to make it look great?

Grrr....



Steven, oh jeese, don't get me going on those pricks!
They all have "MBAs" today, to... "sell stocks!" You don't even need to graduate high school to sell stocks! You simply pass a few tests, get lisensed and,.....you're a stockbroker!
And they all tell you "they" are "better" than everyone else! BULLSHIT!!!
You want some good cheap advice, watch Jim Cramer's "Mad Money" every weeknight at 6 pm! I've made a few shekels from more than one of his picks.
Oh course the "Fidelity Robots" and their ilk hate him. He throws stuff, bites the head off of plastic bears and yells and screams but, he knows what he's talking about 98% of the time.
I have one of those do it yourself accounts $9 per trade in and out. I listen to Cramer and do a lot of my own research, why make those "stockbrokers" with "degrees" and no common sense rich off of your commissions? You see them in the bars after work, BMWs, expensive suits with yellow ties, jock looking guys many of them with a real sense of entitlement, "frat boys" who never even thought of joining the military after 9/11.
They're bottom feeders who's sole motivation is, "The Commission."
Anyone who'd take advice from them is an idiot!



Louve00 -> RE: Does anyone else think this is weird? (9/28/2009 4:32:23 AM)

I love watching and learning from Suze Orman.  The same thing happened to her that happened to you, Steven, but it was Merril Lynch, not Fidelity.  Instead of suing Merrill Lynch (or trying to lol) she got/applied for a job learning how to trade with them and that was the start of how she became a financial guru.  http://www.wwd.com/media-news/suze-orman-the-money-lady-2075877?src=rss/recentstories/20090320#/article/media-news/suze-orman-the-money-lady-2075877?full=true



DomMeinCT -> RE: Does anyone else think this is weird? (9/28/2009 11:18:44 AM)

quote:

ORIGINAL: DarkSteven

Who else has the brass balls to do this? 


Vanguard has the balls to do it as well....after losing value for a year, an Education IRA fund I had fell below the minimum balance Vanguard requires, and they closed the account with a check and a crabby note that I had to maintain the balance or it wasn't worth it for them to keep the account open.  lol



pahunkboy -> RE: Does anyone else think this is weird? (9/28/2009 1:07:18 PM)

My glorious 57 tons of silver is still in tact.  no salesmen- no loss.

-just sayn-



Musicmystery -> RE: Does anyone else think this is weird? (9/28/2009 6:28:22 PM)

I have no problem with this.

You chose the strategy and the investment class. You were advised of the risk. If you wanted to ensure little or no chance of loss, you should have chosen Money Markets or bank CDs--with the lower return.

I'm not at all concerned. When the market tanked, I went right on setting money aside, buying up shares while they were cheap. Next time it's soaring, hopefully I'll remember to switch some to a more secure instrument class in anticipation of retirement.

I don't think they're going to send me mail congratulating me either. They do, however, send out regular reports, which do indeed address market performance, among many other things--as do Fidelity and Vanguard (by law).

So sorry, you stand alone on this one.



thornhappy -> RE: Does anyone else think this is weird? (9/28/2009 6:28:44 PM)

How do you sell it - is it by the oz, kilo, etc.?  I've never tried it and am curious.



Acer49 -> RE: Does anyone else think this is weird? (9/29/2009 6:46:12 AM)


quote:

ORIGINAL: DarkSteven

I get regular emails from Fidelity.  I assume that other money management firms send out regular investment advice emails as well.

They pretend that nothing ever happened regarding my money which they lost.  No "Whoops - sorry!"  No acknowledgment that they blew it.  Just giving me investment advice like nothing ever happened.

Who else has the brass balls to do this?  Does the restaurant that gave you ptomaine poisoning still invite you back?  Does the dentist that pulled three wrong teeth tell you that he can put in dentures to make it look great?

Grrr....


While I am sorry you lost your money, what is it that you are upset about? Is it the fact that you lost money or the fact that you did not receive your letter?
You know investment involves risk; you have the potential to lose everything you have invested on any given day.

They do not have a crystal ball to tell them who are going to make money and who aren’t. Some stocks to drop value and it may take several quarters or even years to recapture that loss. Investors are not viewed as human beings; we are nothing more than an account number most of the time. Ultimately you had to approve what you wanted to be invested in. If you did not monitor what was going on, you are partly responsible for that loss.

As to receiving the letter, how could or would you determine the parameters? If you lost 50k, that may be a lot to you, but to others, it may be pocket change. How often would you send out these letters, once a quarter, twice a year, once a year? If you made money, would you expect a letter for that as well?

I do not see it as a reasonable expectation to receive a letter, it would be nice if they did, but as I said before, you and I are just a number, and people do not care about numbers. I would guess that investment firms have hundreds of thousands of investors. Can you imagine how many people they would have to hire to review all the accounts within a short time span because what letter would have value if it was three months late. I think privacy laws would forbid them to even do such a thing.



pahunkboy -> RE: Does anyone else think this is weird? (9/29/2009 8:29:31 AM)

quote:

ORIGINAL: thornhappy

How do you sell it - is it by the oz, kilo, etc.?  I've never tried it and am curious.


LOL.  I was exagerating.   Tho the stack is the same - I  would sell by the peice.  To learn you should hit the silver/gold message boards.   As there is a sort of cult following.

However 6000 years of history - silver and golf have been a measure of value.



purepleasure -> RE: Does anyone else think this is weird? (9/29/2009 9:01:16 AM)

Steven, I think you're on their mailing list that automatically generates form letters with your pertinent information.  As for the "Whoops, sorry", there are few companies in this economic climate that will admit fault to mismanaging your investment, even though those of us that have suffered a financial loss know that the investment companies are to blame.



pahunkboy -> RE: Does anyone else think this is weird? (9/29/2009 12:47:57 PM)

Well- I do get that type of mail all the time.  Keep in mind ALOT of people have lost money.

You will be happy to know my parrot has a really good shit onto such papers.  ;-)



HisPetSub -> RE: Does anyone else think this is weird? (9/30/2009 12:55:08 AM)

Thanks...pahunkboy...for some reason and in some sicko way...yes...that does make me feel better that I've lost over 50K in the last 18 mths...and further...if you could get your bird to shit on my mortgage documents, I'd be happy to send you copies--because my house lost 180K in 24 mths. Welcome to Northern Viriginia....(now get the fuck out, as we friendly Virginians like to say)!!

Thanks for the laughs![:)]

P.



Vendaval -> RE: Does anyone else think this is weird? (9/30/2009 1:10:13 AM)

It's simple really, you are in their customer data base and receive bulk mail solicitations.



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