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Adding Liquid Alternatives to Your Portfolio

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The financial markets go up and they go down, sometimes they go around and around, and where they’ll go next, no one can say for sure.  That’s why financial advisors recommend diversification, which can help smooth out the ups and downs.  Our next guest says that you can smooth those returns even further by adding liquid alternative investments to your portfolio.  And no, that does not mean buying stock in Jack Daniels.

Mike Switzer interviews Les Detterbeck, one of the few people in the country who is a certified financial planner, chartered financial analyst, and CPA.  He joins us by phone from his office in Charleston, SC.

After almost 20 years, Mike Switzer retired from Wells Fargo Securities in 2001 as Senior Vice President/Investment Officer and Certified Portfolio Manager. In 1999, he and his wife, Maggie, purchased and operated for eight years the Baskin Robbins ice cream store on Forest Drive in Columbia. They grew the store from a bottom-tier operation in the Baskin Robbins franchise system to one in the top 5% nationwide within three years, tripling sales along the way. While operating the ice cream store, Mike and Maggie received patents for a portable ice cream sink and fold-down sneezeguard they invented and in 2002 started Magnolia Carts, an ice cream cart manufacturing company, which they sold in 2013.