Bedell Frazier in Reuters

When Reuters needed professional perspectives for their article on “Brokers stick to  ‘wait it out’ script as markets plunge”, they called Bedell Frazier to get our very own, Mike Frazier’s insight on how educating our clients helps prepare them for any turn in the market. Please join me in congratulating Mike!

“We’ve preconditioned people not to get spooked too much on short-term movement,” Mike Frazier, president of Bedell Frazier Investment Counselling in Walnut Creek, California said Wednesday morning as the Dow Jones Industrial Average had lost more than 330 points.

Frazier, whose firm manages $400 million for about 350 families, said fewer than a handful of clients called him Wednesday, in part because he has weaned them from “momentum” stocks that were up 20 percent to 30 percent over the last few months. Most of his clients have about 20 percent of their investment money in cash, and a substantial exposure to bonds, he said.

– Meredith Rosen

The full article and Mike’s feature can be read here.

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