Many have reverse their investment decisions based on comments from folks back home, even when the folks back home have had no experience with the market or the type of investment on the table. In every case, the trouble as far as I could tell was that the adviser didnt have any idea what the would-be investor was talking about...so they reacted negatively. Not out of valid concern but ignorance. Sure, ignoring advice from advisers, you could wind up investing in something that doesnt work out. But is that worse than missing out on something that could be a big opportunity because someone who doesnt understand it recommends against? You need to keep advice in perspective. Advice from your next-door neighbor, dry cleaner, and golf buddies whove never made the kind of investment youre considering should be ignored out-of-hand. You dont want to ignore advice from your accountant or your financial adviser (what would be the point of paying them for it in that case?), but, again, you do want to keep it in perspective. Your U.S. accountant or attorney can help you assess risk within their areas of expertise...which is often limited. When they overstep it, theyll almost always, in my experience, advise that whatever it is you want to do is too risky. Because they just wont be able to process the opportunity big picture or in full. Every investment has risks—country, currency, management, nature, and to do with the terms and conditions of the contract, as the contact I reference above recently pointed out to his client. In the end, like that client who invested despite the attorney telling him it was too risky, you have to determine your level of risk tolerance in any particular case and make your own decision to invest...or not. https://fundrazr/campaigns/birlc/ab/61DLg0
Posted on: Sun, 29 Jun 2014 11:52:44 +0000
Trending Topics
Recently Viewed Topics
© 2015