As what I read at monday, the author Freakonomics indicates that how the experts undermine the comsumers by information asymmetry and how Internet profoundly changed this situation. This is my most moved section in this reading, therefore, I felt angry. I have been filled with indignation so much that I hardly couldn't continue my rest of reading in the classroom.
My family has a horrible experience for the "good advises" from the expert. When I still was a college boy, my parents decided to set foot in potfolio investment, and hired a stock broker. This broker has a good reputation but excess expectation. At the middle of 2008, my father want to sell out all the stocks but this stock broker dissauded him said that my father will get more profits at the end of that year. Unfortunately, my Dad lose more a half of his invetyment at least. But this agent still took the commission as much as the comtract said, because an annual employment had already been complished.
However, if my father could known some Internet skills, such as how to searching the information about market quotation, which is right way to comparison the data, even how to find some independence comments, he would never make this mistake.
Now, my Dad always tell me " ask for more details about your business or profession, son." And I believe that's the real good advise.
I like the last quote :) it doesn't hurt to ask for more detail
ReplyDeleteThat is very sad. Sometimes when people get better that what they expect the continue wishing for better as what you dad;s broker did. I thing in finance world you have to be strong person. for example, if you set u[ a goal to you investment do not extend it because there is someone will get your place in this investment. Thanks
ReplyDeleteI'm really sorry for what happened to your father but I like the advice that your father learned and passed on to you
ReplyDelete