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VOLUME X • ISSUE X • 2013 

Michaels Newsletter:

Do you find your mind bouncing around?

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An online newsletter, eight pages in length,

published on the last business day of

each month. This contains essays on behavioral investment advice, practical economasdfasdf

which may be accessed in pdf format and transmitted directly to clients (though not

on any websites).

Finally, we reprint (anonymously) selected Q&A exchanges between

subscribers and your editor, pursuant to the second aspect of this resource’s mission:

A situational, or “spot coaching,” clinic.

Subscribers may email me with specific is
-

sues they’re dealing with in client relationships, economic and market conditions, prac

tice management and objections handling. As time permits, I’ll respond directly via

email, usually within 48 hours.

In addition to these two resources, subscribers have access to the entire archive of

NMI which now contains some 1,100 pages of material.

NMI takes as its particular mission to arm subscribers with reasoned rebuttals of th apocalypse

du jour the current-events situation/objection which is most frightening to clients at any given time.

Especially through the horrific volatility of the last five

years, I believe we were decisively effective in helping subscribers—and thus their clients – to maintain their long-term perspective. More than ever, as 2013 begins, I believe

contains the best work I’ve ever done.

I love producing this resource for its rapidly-growing roster of subscribers, and I’d wecome the opportunity to do so for you, too 

 

The Best Source Of Income Is Growth

Environment grinds on, driven by an excessively accommodative Fed and the intense risk aversion of theworld’s investors, one hears on every

side—and asdfasdfasdfy ago now,
I heard the senior Raymond De
-

Voe say that more money had been lost by investors chasing yield than

at the point of a gun. He could not
have imagined the scale on which
he would be proven right just a few

years ago when the world went mad for AAA-rated real estate derivatives which proved to be utterly worthless.

And the madness continues today,s “investors” both lengthen maturities and come down in quality—the two things you would never, ever

want to do at the bottom of an in