“Free Advice” Can Cost You a Fortune

You can get “free advice” from many sources- not only from your stockbroker, but also from your insurance agent, your financial planner, and other professionals. This isn’t really advice, and it certainly is not free.  You saw how free advice, embedded in the hyped-up ratings and research reports issued by major Wall Street firms, cost investors a fortune, luring them into Nasdaq stocks that brought losses averaging over $60 for every $100 invested near the peak. In subsequent chapters, I’ll show you how free advice in other areas (from bonds to insurance) can also be quite expensive.  With free advice, you can actually get hurt in three different ways:

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