article wrote on NZ Herald website today
Directly from Dominon Finance Website
I am really sorry for the people get involved in this sad business but I'd like to bring the attention on some things:
1) before put the money into some funds try to read their balance sheet or at least ask at some financial advisor to do that for you;
2) don't believe at everyone tell you that make money on the financial market it's always easy;
3) as you can see on the pictures above their "gains" rose every year just because their equity-allocations rose too and on the top of "euphoria" more than 40% was put on shares instead of to think of their cash position ( 5ys ago that percentage was only 9.5);
4) were they good, smart or skilled ? Not at all ! Every year .... UNDER BENCHMARK. In fact if you had bought the NZ50 Index you 'd have done much better (2003-2007 = 100% and not compound interest);
My advice ?
Open your eyes and try to be informed.
There are a lot of good advisors here, on or out-line. Find them !
bye
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