"Invest in companies that you hate the most."
That's the advice of Scott Adams (creator of Dilbert), as explained in a recent Wall Street Journal article ("Betting on the Bad Guys"). It's one of the funniest articles you'll read in a while.
Included in the article is a tale of Adams' experience with professional investment advisors:
"Instead of investing in companies you hate, as I have suggested, perhaps you could invest in companies you love. I once hired professional money managers at Wells Fargo to do essentially that for me. As part of their service they promised to listen to the dopey-happy hallucinations of professional liars (CEOs) and be gullible on my behalf. The pros at Wells Fargo bought for my portfolio Enron, WorldCom, and a number of other much-loved companies that soon went out of business. For that, I hate Wells Fargo. But I sure wish I had bought stock in Wells Fargo at the time I hated them the most, because Wells Fargo itself performed great. See how this works?"
Perhaps Adams would have been better off with a fee-only financial planner.