You know an adviser has no clue about strategy when he or she tells a mutual fund investor not to buy a fund that clings to a particular “style” of investment, such as small cap or large cap. But to pick and choose what is just right for the “season.” or times.
That advice will tip you off that the adviser has no specific strategy. The adviser is willing to change strategy to suit whatever style may be popular at the time.
My experience has shown that such undisciplined investments with no set strategy tend to not do as well.
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