ProgressOhio

I think I know what's wrong with the financial services industry. It's not a failing global economy, unscrupulous derivatives traders, or the giant Ponzi scheme of online stock trading.

No, the problem with the financial services sector can be be summed up by an email I recently received from an Investment Advisor/VP of Wealth Management for a major brokerage house which I no longer do business with. Here's a snippet:

Economic Data - Coming in fairly consistently better than expectations. The Armageddon scenario appears to be off the table as the economy while not improving substantially appears to be proving more resilient than most economists are predicting. The proof will be on the markets to actually show economic improvement in the second half of the year, not just better than terrible but for now signs of stabilization are present

Liquidity - Credit Markets are easing and spreads are coming in. This is a positive Sentiment - Panic/Euphoria Model is still in PANIC mode.....

I mean, really. What the hell is he talking about? I'd expect more clarity from a middle schooler's cut-and-pasted essay on America's Financial Mess.

I'm not quoting out of context here. There is no context. This email contains no personal greeting or explanation. This is a vice president -- aren't they all VPs in that business? -- just randomly phishing.

These people simply don't know how to communicate. To compensate, they use insider jargon to make you feel stupid. Well, I'm not going to be intimidated by their Armageddon scenarios anymore.

I don't have to listen to their drivel. They can take their Panic/Euphoria Model and shove it. I can lose money all by myself, thank you very much.