No Guarantees: Limiting the Risks of Investing in a Crazy World
In any book on investments and finances, there will inevitably be a number of legal disclaimers along the lines of “Past performance is no indication of future performance” and “There are no guarantees that any particular investments recommended in this book will do well.” Such statements are quite true and are meant to provide fair warning and to protect both the investor and his or her financial advisor (and the firm the advisor works for) from unreasonable expectations. As a starting point, then, keep in mind that when it comes to investing and performance, there never were (never will be and never can be) any ultimate guarantees.
Also, as was made clear from the beginning, this book is not—and was never meant to be—a detailed implementation manual or how-to book, with regard to the wise use of Strategic Debt and all of the ideas and practices associated with it. Instead, think of this book as a starting place for new ideas and ways of looking at things that you should then review with your advisors. For even though there are no guarantees in the bigger sense, the chances of you making the right short- and long-term moves for you and your family go up dramatically if you are working with a competent, honest, and well-intentioned financial advisor or private banker.
Whoever you work with, there are a number of fundamental concepts concerning risk that both you (and your family) and your advisor should ...