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Personal Finance and Investing

safeinOhio

(34,322 posts) Thu Feb 27, 2020, 08:26 AM Feb 2020

Big banks suck, never buy what "experts" are saying.

Citigroup strategists are advising against buying equities right now, on the view that if a Federal Reserve lifeline is coming, it may not happen right away.

So they are saying wait for interest rates to come down and borrow money to buy shitty stocks.

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Big banks suck, never buy what "experts" are saying. (Original Post) safeinOhio Feb 2020 OP

A big bank financial adviser ... Yonnie3 Feb 2020 #1

Yonnie3

(18,197 posts)

1. A big bank financial adviser ...

Reply to safeinOhio (Original post)

Thu Feb 27, 2020, 09:21 AM

Feb 2020

told me I was stupid for paying off my mortgage in the late 90s. Instead I should have done a refinance and used the proceeds to buy front loaded tech stock funds from his bank. The only winner would have been the advisor's bank account from his commissions.

I didn't take his "expert" advice. I did invest regularly with money I earned in low fee index funds and bought in both boom and bust markets. As I got older I moved gradually to a more conservative balanced portfolio that includes bond index funds.

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