Help for the do-it-yourself investor

On February 22, before the recent bear market and during the very early days of the Coronavirus, I was scheduled to speak at Vestory’s Annual Retiremeet.  I went a day early so I could interview two very good friends I'd worked with for more than 10 years, Tom Cock and Don MacDonald. The three of us used to do a weekly radio show together.  It was always fun and we had great guests like John Bogle, Knight Kiplinger, Larry Swedroe, Scott Burns, Robert Kiyosaki and Joe Granville, to name a few. In 2009 Tom and Don left the Merriman firm to found Vestory  a registered investment advisory firm. In this podcast we discuss the challenges of helping the do-it-yourself investor.  While Don mentions the importance of staying in front of the investors on a regular basis, they felt one of the most difficult decisions for DIY investors is determining their risk tolerance. They offer an interesting risk tolerance test that I took. It has some very good questions. I suggest you give it a try as it is more specific than most. Questions I ask: How can you tell if you are working with a fiduciary? What do tell investors about expectations for long term returns? Why are stocks a good investment for the long term? How much should young people be investing? How can mutual funds offer funds without any expense? What do you look for in a good investment advisor? Don MacDonald is also author of Financial Fysics: How Money and Investing Really Work. For those who know Don’s outspoken mistrust of stock brokers, you will be shocked that I tricked him into saying something nice about stockbrokers. Tom and Don do a weekly radio/internet show, "Talking Real Money", as well as a daily podcast of the same name.  I hope you enjoy this podcast and check out their daily podcast. In fact, they have a call-in phone line where you can leave a question anytime. Give it a try: Call 855-935-TALK. Join more than 25,000 savvy investors who subscribe to our free twice-a-month newsletter at paulmerriman.com