Thursday, January 25, 2007

Bloomberg: "Henry Blodget, Big Pal of the Little Investor?: Susan Antilla

Awhile back I wrote a post about several serialized portions of Henry Blodget's new book. Susan Antilla of Bloomberg does a good job of reminding everyone just what Mr. Blodget did that got him fined and "moved to the sidelines", as I put it in that post. I could have said some more on that. His book, as she notes, has good general advice in it, and I would say that it could help small investors do better than they can on their own. What he did back in his heyday was very wrong, and it did hurt people. We should be aware that there are very probably others still working in the industry, with similar propensities.

As Ms. Antilla says, "Wall Street can be a hazardous place for the trusting individual investor." Apt, important words. Keep her caution in mind the next time someone pitches their very special heavily-commissioned investment product to you. Opinion

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