Pessimism

Template for a mid-year letter

Wednesday, April 18th, 2012

Below is a template for a mid-year letter to go to clients. Please make sure you read the accompanying post, Guidelines for An Effective Mid-Year Letter. Please remember that this letter is intended as a template only, be sure to take the time to modify this to reflect your personal views. June  22, 2009 A […]


A Letter for Pessimistic Clients/Prospects in Q1-2012

Wednesday, January 11th, 2012

If you’re at odds for a letter to send to clients this first quarter of 2011, as you’re going about communicating with them in the midst of all the current pessimism, and in the context of this RRSP season, here’s a great (white label) one  we just received from the folks at Capital International Asset […]


A Positive Perspective for Discouraged Clients

Wednesday, December 21st, 2011

These days, it often feels that we’re totally enveloped in a mood of pessimism. At one level, that’s understandable; start with subpar market returns for ten years and counting, severe debt problems in Europe and a slow growth economy in North America. Add in a generalized “austerity” mindset and a work environment that for many […]


Why Warren Buffett is optimistic – A quarterly letter to send clients

Wednesday, July 6th, 2011

Among my articles that draw the most interest from advisors are the draft templates for a quarterly letter to send clients. This quarter’s letter is designed to balance some of the extreme pessimism among many investors. This negative sentiment is understandable given the real challenges facing the U.S. and European economies, but is also a […]


Year end letter for clients… Investment advice from Winston Churchill

Wednesday, December 15th, 2010

For the past two years, I’ve posted quarterly letters that advisors can use as a starting point to develop client letters of their own … the year-end letters have been particularly popular. The draft year-end letter for 2010 follows. A reminder of the essential qualities of an effective  client letter: 1.    Reasonably short (3 to […]


Do You Need a Code of Conduct?

Tuesday, October 19th, 2010

Recently, I got an email from an advisor asking for suggestions on how to deal with clients who sold some or all of their portfolio near the 2008-lows. More specifically, he wanted to know if it’s worthwhile educating these clients of where they would be had they not sold out? Or does he risk further […]


Navigating Post-Financial-Meltdown Reviews

Tuesday, October 19th, 2010

Recently, I got an email from an advisor asking for suggestions on how to deal with clients who sold some or all of their portfolio near the 2008-lows. More specifically, he wanted to know if it’s worthwhile educating these clients of where they would be had they not sold out? Or does he risk further […]


“The pendulum never stops……”

Sunday, September 19th, 2010

Occasionally, something we hear sticks in our minds and stays with us. When I was in business school in the 1970s, my finance prof used a phrase that I often find useful in conversation with clients and investors – especially in markets such as we’re in today. That phrase: “The pendulum never stops in the […]


Two Compelling Articles to Send Clients

Sunday, September 19th, 2010

“I’m a huge bull on this country … we won’t have a double dip recession. I see our businesses coming back almost across the board.”  ….Warren Buffett, Berkshire Hathaway “GE is now finding it profitable to build manufacturing and service centers in the United States rather than overseas, because it is more competitive to do […]


Three ways to inspire clients

Wednesday, June 30th, 2010

What’s your main goal when meeting with clients?Given the beating their portfolios have taken and the general mood of pessimism, often it’s to have them leave feeling more optimistic and upbeat about their future prospects and in particular about your role as their advisor. After all, people shouldn’t see meeting with their advisor as a […]