My coworker told me something interesting today. A close friend of his is an attorney. Due to these rough times, his phone has been ringing off the hook with people who want to sue their advisor, broker, estate planner, investment firm, and even mutual fund company! He is taking on every client he can and says he’s looking at a very busy few months. Has anyone else heard or witnessed similiar? It really makes sense and fulfills the ‘sue your way to success’ mentality some people have.
It certainly happened after the dotcom bubble. I will now leave you with an important message: LAWYERS SUCK.
They’re definitely opportunists. But you can’t blame them. Clients are idiots, they frequently take for granted basic concepts that their PMs try to implement: adequate diversification, emphasis on high quality blue chip names etc., etc. the idea that having 45% of your portfolio in energy is NOT a great idea. Willy
hate lawyers, most of them couldnt punch their way out of a paper bag