CNBC – “House Of Cards”
A Sobering Reminder of What Happens When Financial Professionals Sell the Wrong Way
David Faber’s insightful documentary on the world economic meltdown provides a sobering and in-depth snapshot of the various causes associated with the seizure of our global financial system. Although pundits will debate the specific causes of this crisis for years to come, certainly beyond debate as one of the primary causes was the use of inappropriate sales strategies and tactics in the marketing of both retail and wholesale financial products.
You cannot sell financial instruments (credit, investment, insurance, etc.) the same way you sell traditional goods and services. That statement has been true since the dawn of financial markets. Faber’s report shows all financial professionals what can happen when they market risk-based financial instruments the same way they would market a photocopier, an automobile, a can of soup, or any other widget.
We hope this documentary acts as a reminder of what can happen when we market risk and investment performance the wrong way. This documentary should be required viewing for financial professionals of all experience levels.
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