12 May 2011

'Rent-a-President' - with your money!

A report that ex-Presidents George W. Bush and Bill Clinton attended a closely-guarded meeting for private clients of a major wealth management bank demonstrates that investors should closely scrutinise the fees they pay to their financial advisers. One may or may not have a view on the policies of these ex-politicians but it is difficult to see what they can add to the performance of the client portfolios supervised by the bank. There may be a certain entertainment value but as we have never seen proof that either Bush Jr. or Clinton possess outstanding investment acumen.