TWAnr
Veteran
- Aug 19, 2002
- 1,003
- 0
Anybody can register an an investment adviser. It does not take much. There are no educational or employment pre-qualifications. One only has to agree to maintain a fiduciary duty to his/her clients and provide them with full and complete disclosure of all fees, conflicts of interest and information about the adviser's business practices and educational and business background, maintain accurate and current books and records, and, if authorized, exercise discretion in selecting investments with only the clients' best interests in mind (SEC - How To Register as an Investment Adviser).You say he's "a self proclaimed investment adviser" yet you quote his disclaimer that says he's a registered investment adviser.
How would you view that?
Baumert has no credentials or qualifications whatsoever as a financial analyst. All he has done was to register with the SEC as an investment adviser. It is quite obvious that he does not even abide by the very basic conflict disclosure rules. He does not share with the readers of his newsletter his employment by American Airlines (the reason for his patent bias against AMR), which is a clear conflict of interest.