As financial markets are difficult to foresee there is a saying “all cook with water”. It is true and I like to share my experience.
During my banking time, I used to make a lot of recommendations. Of course I liked it when the selected assets were successful. Very often the reasons for this was different to my analysis and expectations. So what did I do? I was transparent. I did explain how happy I was that my recommendation moved up and also mentioned that the reasons were different to the ones I expected.
When I am faced to a recommendation before I proceed with it I like to know the source and the essence of it. For this reason I differentiate depending on the source of the water. Is it from the Hudson River in New York, the Thames in London, the Rhine in Basel etc. Basically there are different types of water similar to cultural differences.
I strongly believe that it is important for the client to be aware of the factors and reasons of the recommendation. It helps to understand how it can be applied to you as an individual.
What do you think? Is it helpful to know the elements of one’s decision?
Independently of your answer try to track the transactions that worked out and avoid repeating the ones that failed.
