Beware Of Empty Advice

I caught a segment of Bloomberg's Good Friday programming and heard from a fellow named Paul Santucci who is a CFP at American Express.

The conversation, as it often does these days, floated toward investing in China. Show host Brian Sullivan asked Mr. Santucci how much should be invested in China. He said "depending on your time horizon and risk tolerance he would have between 5% and 20% of equities in foreign. For a specific country closer to 5%. China overall is in good shape but you just don't want to be over exposed."

There was plenty of squirming to accompany the advice. This guy was on the wrong show. There was no agenda, I believe, but no field of expertise either. If you watch these types of shows try to recognize when people are out of their realm. For Mr. Santucci, his realm was mortgage refinancing and not chasing the heat of last year's best mutual funds.

This type of thing happens a lot. I would suggest paying attention for this when you watch these shows.