“Economists, like royal children, are not punished for their errors.”
- James Buchan.
We lost another client last week. This makes a grand total of two
clients who have left us over the past year, not because we lost them money,
but because apparently we didn’t make them enough. Since the rate at which we are
attracting brand new clients is comfortably outpacing the rate at which we lose
relatively new clients, this shouldn’t be an immediate cause for concern either
for us or for our clients, but it is a little galling nonetheless. We take some
pains to try and communicate our philosophy and process on a regular basis, but
such communications for some clients are evidently insufficiently compelling when
set against a bull market in common stocks and other risk assets. The market’s
going up ! And what have you guys done for me lately ?
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