you are the boss of your broker

With the disaster that is Opes and this enduring bear market, a remark comes to mind from a bloke I had lunch with a few years back.

We were in Sydney's Potts Point area and after lunch strolled down to Rushcutters Bay to walk off lunch and look out over the water from the park.

There were a bunch of nice yachts anchored there in the Yacht Club.

I said facetiously, "I reckon those are yachts of bankers and brokers."

He replied, "Yeah, but where are the yachts of the investors?"

Hmmm.

Worth keeping in mind to remember who is the boss of your money.

You pay people to do a job for you, in this case brokers to invest in shares.

Stay on their case and make sure they do it to your satisfaction. Check the fine print. Ask questions. Don't be afraid to sound dumb by asking really basic questions.

They are being paid for a service so you are the boss.

Act like the boss and you won't sink, and they won't be sailing off in a yacht at your expense.

Larry