In 2009, we asked advisors to share their funniest tales in hopes of bringing some levity to the dark days of the financial crisis.
We’re bringing them back on Fridays so you’ll get a few laughs going into the weekend. Here’s our next installment.
Diversification dilemma
An advisor in Nova Scotia got an interesting lesson in asset allocation and diversification from one of his clients.
The client had the good fortune to win $200,000 in the lottery. After he had indulged a pent up desire for a new pickup truck, the advisor politely asked what had become of the rest of the winnings.
The client proudly informed the advisor that he had diversified his holdings—by placing half the money in a savings account at a bank in Halifax, and the other half in a savings account across the harbour in Dartmouth.
Says the advisor: “Somehow, I managed to keep a straight face.”
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Read previous weeks’ Friday Funnies