Do it (research) yourself? Or leave it to the expert(s)?

 Famous last words: “That’s too complicated. I just do what my (broker, doctor, mechanic) recommends.”

IFO is long, long, long on doing your own due diligence on everything. This applies to investing, as well as medical care, car care, and any other activity that affects your self, your body and your finances.

Here’s a story that should encourage you to follow her advice: Witness: Cancer doctor’s treatment ‘over the top’

Key points from the July 6, 2015 article in USA Today, edited for brevity & clarity:

A Detroit doctor who made millions of dollars committing fraud against insurance companies grossly over treated hundreds of patients, sometimes giving nearly four times the recommended dosage amount of aggressive cancer drugs, a government witness testified Monday in federal court.

More details from the Detroit Free Press: The doctor “admitted [in a federal court trial] he billed insurers for millions of dollars. Some of his patients didn’t even have cancer.”

The doctor “had extensive business holdings, including Michigan Hematology-Oncology, a clinic that received more than $169 million from Medicare and Blue Cross Blue Shield since 2006,” according to court testimony.

The doctor was arrested and charged by federal prosecutors with fraud in August 2013.

Here is what one woman patient said at that time, “”I always liked Dr. Fata. He had kind eyes,” she said.[…] “I couldn’t believe it. Now, I’m worrying if I’m really that anemic. … I’m totally shocked, because I trusted this man implicitly. I trusted the lab reports.”

Another woman was treated with massive iron infusions, some of which resulted in hospitalization. Now, she wonders whether she even was anemic.

The patients were shocked, shocked.

“I’m getting e-mails and calls that are nothing but complimentary of the doctor and their treatment at the facility,” the doctor’s lawyer said.

IFO believes the lawyer. Years ago, she covered the trial of a local doctor who had performed many more procedures on women, including abortions, than the local hospital board had said he could do.

To get past that restriction, the doctor forged the signature of another doctor. He got off with a hand slap, b/c so many of his women patients testified in his favor.

What do we learn from this? Please, please, please do your own due diligence, think for yourself, analyse everything, don’t ignore or downplay your suspicions or intuition.

Don’t be afraid to make your doctor or broker angry. You can always get another one. You can’t get another life.

 

 

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About InvestingforOne

I've been investing in various assets by myself using a discount broker for many years. Over that time, I've developed some theories that others might find useful. Plus, there is more to investing than money. Time, talent, work, friends, family all go into developing a good and satisfactory strategy.
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