my point simply is finacial planners are useless in most cases...

my point simply is finacial planners are useless in most cases because they dont know what they doing and they try to bat away responsibility by putting people into passive funds. yes there are some good ones but 99% are not.

Buffett is a buy and hold yes but i talking about passive funds ie essentially buying index funds. FPs dont like actively managing or putting clients in actively managed funds because if goes wrong client will give them a hard time. By putting in passive funds when market turns south and client loses they just say hmm not my fualt you still got mrkt rtn.

Most FPs quote the french and famer study that says active managers dont outperform the market over time therefore may as well just get market rtn as over long term you likely to be better off and they also tend to go 0verweight aussie market.

I am saying that cba fallen from 96 to 66 and still falling - so you can decide for yourself where the cycle is but as rates rise equity mrkets are going to fall in US and the world follows - contagion risk is alive and well.

people are worried abt us rates ten year now way over 3 - b4 they thought ok maybe us and china will work it out and world growth will sustain. Now IMF have come out and say this is causing and may cause a more significant drag on growth - there is no coincidence on timing of market correction - its down to basics and a us president who doesnt understand impact of policy.

Sure I think everyone agrees China dont play by rules and needs to be sorted but I afrain its you and me that ends up paying for it.