We are at a point now where the markets are dropping severely.
You need to ask your advisers what they are doing for your portfolio. Ask them if their strategies have steered them away form losses, ask them if they have prospered in these times. If not why?
If you have an option advisor, are the strategies paying off for you or them? Are the complex strategies costing more for commissions then they are paying out?
Can a double calendar or a iron condor be as profitable as a simple buy of an option?
If you continue as you are now, it will be costly. How do I know? The letters and call I get tell me that the same old buy and hold is still prevalent.
Truly this approach is no longer working.
I have written an introduction to a paper I am writing about financial planning. If interested, drop me a line and I will let you review it.
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