I’m not a big fan of financial investment shows and seminars, but I was surprised when I heard what sounds like refreshing honesty from portfolio manager, attorney and finance author, Danielle Park, on Micheal Campbell’s weekly financial show, Money Talks. While most such shows are bought and paid for by financial investment companies, and you are never likely to hear anything but “trust us, if you want what’s best for your money,” Danielle explains how she saw all the signs of a massive financial crash back in 2007, no one else seemed to be worried, including some of the top economists n the world. It was under such false confidence that the money markets led private investors to gamble their hard-earned portfolios more and more, in hopes of the next big score like gamblers fever. The result was the worldwide financial crisis we are experiencing today.
The truth is that most private investors have been so harmed financially in the recent past, that only the most foolhardy would want to risk much of it again. But most financial managers only stand to gain by advising their client investors to risk it again by “trusting us one more time.” Most sensible ones however, have had enough, and seek to shelter their funds in safer harbors like commodities, chiefly precious metals.
Danielle Park has realistically outlined “what the Hell went wrong” and continues to offer realistic advice on how to deal with the phenomenon of investment overconfidence, similar to gambler’s fever, which has led to arguably the worst financial crisis since the great depression.