By Tom Bradley

My last posting on packaged investment products generated a lot of feedback. There were some great comments posted on the blog, but I received many more emails from readers of the Saturday Globe and Mail. Below are snippets from some of the emails.

Of note, more than half of them are from fellow investment professionals who have had experience with the ‘products’ and feel the same way I do. The sampling very much represents the consensus of my feedback so far.

“As an advisor myself, I come across prospects who have these types of investments in their portfolios and have no clear understanding of the products. I often see PPN's inside fee-based accounts.” (TB note: Putting a PPN, that is already loaded with fees, into a fee-based account is egregious.)

"Excellent article Tom. Incredible how the industry knows that consumer ignorance is highly profitable.”

“I hope your message opens many people’s eyes, as it very well should!”

“I've noticed you're still criticizing ppns in your articles. I think it’s pretty funny that people would do that - given ppns are probably the best performing products in many people’s portfolios. Anyways - there is a significant increase in transparency and regulation for PPN both from the issuer and dealer perspective. Far more regulation, transparency, and better returns than the hedge fund industry...Bottom line is - I'm happy to pay a higher price for a product that will protect me from meltdowns like the one we are going through”

“Your Saturday column was sooooooo right on. We always say to our clients...if a guy talks to you about a PRODUCT or something where your capital is GUARANTEED...IT IS REEEEAAALLL EXPENSIVE. The salesman or his company will make the dough.”

“Your recent article in the Globe contains a sentence, Who's insuring who? Does one insure he or him?
He - who
Him - whom
Therefore, Who is insuring whom?
That simple.”
(TB: I need all the help me can get on this stuff.)

“Keep up the great work by informing Canadians about all these useless financial products out there.”

“Once again thanks for an excellent article today. "It will sell" is a clear proof that there is little difference between many salesmen in the financial industry and George Foreman. Except of course, that George's grill actually works.”