You're Unbelieveable

posted by The Sailor @ 8:12 PM Permalink

Gosh, the economy must be OK because I'm getting unsolicited snailmail from Ken Fisher! You know, Ken Fisher!, the Forbes columnist!! and CIO of Fisher Investments!!!

So I googled Mr Fisher and guess what? This is what he recommnded:

American International Group (nyse: AIG - news - people )

This giant insurer is lower than it was one, three, five or even eight years ago--back when it sold for 40 times earnings. Now it is just eight times earnings and 1.2 times annual revenue. But with an exceptionally strong presence in insurance and broader finance, and slow but steady growth, it will enjoy a good run in the stock market in 2008.

And that was in 2008.

Now to be fair I've also been solicited by folks who want to lower my mortgage, (I don't own a home,) give me great deals on a new car and think I should take out a second mortgage to pay down my credit card bills, (I still don't own a home & I pay my debit/credit card balance every month. Woo, hoo! Actual 0%!)

But how bad does Kenny Boy have to be doing that he sends out a cold call snailmail that offers me free! FREE!!1! "The Eight Biggest Mistakes Investors Make And How To Avoid Them" which he put together "solely for financially successful individuals."

Did I mention it was FREE!!1!!9!

Well of course he put them together for people with money, who else can afford snake oil!? (Jeebus, Kenny on South Park has a better record than you do!)

Now I repeatedly tried to contact Mr Fisher to interview him, but apparently he's always in a meeting ... yeah, probably all that work he has to do to oversee the boiler room operators that are taking the calls.

I really hate these bastards that have preyed on us for years and finally got caught in their Fonzi [sic] schemes.

The fact that Kenny Boy has to resort to cold calls again is a bit of schadenfreude for me, but I take no pleasure in seeing my 401(k) lose 40% its value and very little pleasure in seeing my CDs at 1.09%.

But I'm truly thankful that I still have a job and retirement accounts and health insurance.

BTW, just in case no one got the title of the post, it's by INXS. And the title & band name really sums it up.

And since I couldn't find the YouTube for INXS I'll leave you with a bit of basic accounting:

Cross posted at SteveAudio

Labels: AIG, banksters, Economy, SEC