What's this in my in-box? Merrill Lynch has sent me a "RIC Report"? issued by their "Research Investment Committee"?
Hmmm. Interesting. Investment strategies. I should look into this report with all its charts and guidance. I see it's produced by a guy named Michael Hartnett, called "Chief Global Equity Strategist"– probably a real guru.
Yes, I might learn about global investing and find insights into key industries. So... I'll just click the link here... But hey, this is convenient – a one-sentence "synopsis." I'll read it first just to get a flavor...
"Synopsis: Two years after equity market lows, the RIC believes the cyclical bull market in risk assets is incomplete, but in the near term we are cautious until we see a peak in commodity prices."
Okay. That's... completely... meaningless. Based on this synopsis, I bet Mr. Hartnett's committee has never been sued for giving bad advice. "Giving bad advice," after all, implies that the advisor has advice to give and is able to put across an intelligible thought.