Financial advisors are by no means infallible but tend to work with clients that plan for the future, heavily discount government’s role in their planning, and are self-employed. As such, they probably tend to have a pretty good handle on what drives investors and the economy – not to mention often times being self employed themselves.
What say they regarding our governments efforts to salvage our economy?
from Financial Planning Magazine yesterday:
Brinker Capital, an investment management firm, published its Brinker Barometer, a gauge of financial advisor confidence and sentiment related to the economy and the markets. It concluded that advisors across the industry are skeptical of the government’s attempts to shore up the economy. “Financial advisors continue to be concerned about the state of the U.S. economy and are critical of the Obama Administration’s efforts to introduce a meaningful stimulus package,” said John Coyne, president of Brinker Capital, in a public statement. “Fully 77% of respondents say the final stimulus plan will not be effective, while 88% of advisors contend that the plan itself was not the product of a bipartisan effort.”
About 43% of advisors surveyed said that government’s efforts should have job creation as the top priority. Tax cuts came in second at 30%, with housing and mortgage relief third at 16%.
How about Mr. Obama himself?
When asked to grade President Obama’s performance so far with a mock school-grading system, nine percent gave him an “A,” while 66% graded him between “C” and “F.”
Despite the Governments worst (and predictable given the current administration) efforts, advisors think that the markets, in anticipation of the economy, will improve – albeit slowly – despite the Obama Administrations ill-advised tactics.
Sixty percent of respondents think that the economy will emerge from recession in 2010. And more than one-third of respondents believe that it will take more than six years’ for portfolios to recoup their losses.
Just in time for Obama to take credit although it will be too late as his supporters will have realized by then that they are still making their own mortgage payments and filling their own tanks with gas.
John, while much of what you ascribe to Financial Planners I would at least argue in some respects, rather than do so, let me also advise you that I don’t know of one of them who seriously considered Bush anything but an abject failure.
I’ve also never talked to one who knows beans about banking who blamed CRA for the current economic crisis. The brighter ones know Phil Grams holds more responsibility than any other person for the disasterous oversight environment related to CDS and derivatives.
So if you want to start pointing fingers and saying ‘They know stuff’, you may not like what they actually know quite so much as you think.
Funny, I didn’t see one reference to Bush in this post. I think that may be because Roosh is a financial planner not a historian. While history may be insstructive it is not by definition predicitve.
One thing that is easy to predict: do a post about how it’s snowing outside and Peev will tie it to the “failed Bush administration”.
When will Peev get over her BDS?
I laughed at a bumper sticker today:
“The Bush Legacy: Leave No Child A Dime”
Must have been printed before the Obama Budget hit the fan/papers. I guess it could have been printed more recently by those who serially deny reality. Are you behind this, angryclown? 😉