That is, if you're either unsavvy or dare I say, greedy enough to not practice good old fashioned asset allocation. Yes, if you blindly follow the advice of the yapsters at the country club, you could get taken to the cleaners.
In case you haven't already been reading about this, the rapidly emerging Bernard Madoff story is truly stranger than fiction. So make yourself your first New Year's resolution: if it's not a good old fashioned general purpose and broad mutual fund like a total stock market or S&P 500 fund, then no more than 5% of your assets go into it.
I mean...I'm not losing sleep that he'll be living in a cardboard box anytime soon, but Mort Zuckerman got taken? Wow.
Link to original post
