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pint before embarking on a financial
career in the early 1980s, also specializes
in consulting with high-net-worth indi-
viduals and can't emphasize enough the
need to be an educated investor, and for
advisors such as herself to understand
the amount of risk someone is willing
to accept. Then once the risk level is
determined, she's better able to plan a
client's finances.
Farber, who earned the designation of
Ocertified investment management ana-
lyst from the Wharton School of
Business at the University of
Pennsylvania, looks to invest in the
ABCs: America's Best Companies,
which historically have less risk, will sur-
vive the "worst times, and expand."
Following the crowd never works
when it comes to investing, she says. To
illustrate her point, she uses the bursting
tech bubble that saw technology stocks
tumble 85 and 90 percent. "People did-
n't understand the volatility of those
investments," she explains, comparing
that situation to what occurred in the
then-nascent automobile industry
between 1919 and 1922.
"Nearly two-dozen car companies
entered the market then. There was such
hope and euphoria associated with this
new industry, but eventually the bubble
burst, Much like what happened to
high-tech companies several years ago,
and only the strong survived," she says.
However, the falloff in the auto
industry was not all that bad, allowing
the young industry to grow steadily into
maturity. "That," she says, "will happen
in the high-tech sector."
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ir
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Financial Group, L.L.C.
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Securities offered as a Registered Representative of Princor Financial Services Corporation, Des Moines, IA 50392-0200, (800) 247.4123,
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21411 Civic Center Drive Suite 204
Southfield, Michigan 48076
248-354-4111 Phone • 248-354-5532 Fax
L
CLEARVIEW ELECTRONICS
Remember To Diversify
Another strategy: diversify. Matthew
Gurwin, a private wealth advisor at the
Locniskar Group at Merrill Lynch in
downtown Detroit, says the last few years
"taught us all that diversification and
asset allocation are the keys to success."
His advice is to consider adding alter-
native investments — private equity or
hedge funds — to your portfolio, but to
make sure that those investments corre-
late to one another. "And up or down,"
he says, "over several years, [this approach
should help] achieve your goals."
Finally, understanding that predicting
the market's rise or fall is dependent on
many external forces, Gurwin says he's
cautiously optimistic going forward.
"No one's running away to hide their
money under the mattress, and that
wouldn't be a good plan," he says.
Rather, his instructions are to "be diver-
sified, know your needs, and work a
plan that makes sense to you and your
adviser. In the end, your money will be
there." ❑
Brian D. Kaufman add
Jerald Kaufman, CLU, ChFC
www.kaufmanllc.com
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