I got a phone call yesterday from a representative of a local investment firm. The caller was not your average telemarketer. She was well spoken. Her delivery was unhurried and respectful. I could tell right away this wasn't your average boiler room operation. Now I don't normally give telemarketers any time at all, but because of the obvious differences between this caller and all the others, this one I decided to listen to.

The pitch was presented as something new and different. She told me her firm's strategies "fly in the face" of traditional investment strategies for superior risk adjusted performance.

OK, I'm interested. She went on to explain that her firm only recommended a long term approach to investing. Their advice leaned heavily toward asset protection, with growth as a secondary objective. They did not believe in heavy asset turnover rates. They believed in investing in broad market incexes to minimize exposure to individual security risk. She began her wrap-up by telling me her firm's advisors worked only for fees. They do not work on commissions or referrals of any kind. Her close was intended to set the hook by giving her product the air of exclusivity. Their minimum investment: $2Million.

I politely thanked her and said I wouldn't be needing her firm's services. She didn't ask me why; but if she had I would have said it's plain to see the investments her firm recommends are simply broad market Exchange Traded Funds purchased and held for the long term. I would have asked her what advice, over and above to purchase one or more of these ETFs, her firm's financial advisors might have; and I think she would have said, in a lot more words, none.

So there you have it, friends. Today I give you the benefit of investment advice available only to investors with $2Million or more to invest. Buy and hold broad market Exchange Traded Funds.

There is a beautiful fall weekend ahead. I hope you will make the best of it.

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