Chicago-based investor rights attorneys at Stoltmann Law Offices, P.C. have been retained by an investor who lost substantial sums from her portfolio in 2018 and 2019 during an unprecedented bull market. The investor’s complaint alleges that because her Chicago-based Morgan Stanley broker invested most of her retirement accounts in “bear” mutual funds, that she lost approximately $150,000 when her accounts should have actually increased by at least $100,000. The Morgan Stanley financial advisor apparently believed he had the ability to time the market and aggressively placed unsuitable bets on the market’s direction. It is alleged that Mr. George bet virtually all of this investor’s retirement money on the belief that the stock market would abruptly collapse in 2018 or 2019. Unfortunately for this investor, who is retired and has little investment experience to speak of, she missed out on the gains she would have received had Morgan Stanley invested her funds in a well managed portfolio catered to her investment objectives and risk tolerance.
The specific funds that Morgan Stanley financial advisor Richard George is alleged to have recommended to this investor are:
- Leuthold Grizzly Short Fund (symbol GRZZX)