We all have been caught following Oprah (Oprahian?) advice at some point or another. Even if not all of us care to admit that loudly. She reads certain books and they become bestsellers. She showcases certain songs and they become hits. She promotes certain professionals and they become the most trusted voices for their fields. You get the idea.
So, now she has a new investment adviser. According to The Wall Street Journal:
Bringing on Mr. Adamson is considered a coup for Ms. Winfrey. Mr. Adamson, a 47-year-old Stanford University business-school graduate, has served as Mr. Broad's investment chief since 2001. Before that, he served as an adviser to the billionaire Bass brothers in Fort Worth, Texas, an operation that became a model for family-office investment vehicles around the U.S.
With the Broad Foundations, Mr. Adamson has a record of earning 3% to 4% above the "appropriate indices," according to a foundation email discussing its results. On Monday evening, Mr. Adamson was in New York City accepting an award from Institutional Investor magazine for Large Foundation Manager of the Year.
Are we looking at the next Dr. Oz, but of investing? Maybe. But, of more importance to Oprah's constituency, and in a way that's many of us, is whether you should hire an investment advisor. Quick answer: No. We at LearnVest believe unless you are a very wealthy and/or experienced investor you should be sticking to index funds. And, yes, we hear you that even that requires some education. However, for the average person this is perfectly within your grasp. Reading Yahoo Finance every day will keep you abreast of market trends and reading our LearnVest Investing Basics will tell you what you need to know and what you need to know more about.