My friend came by recently and the conversation turned to the markets. He had come by a good deal of money the hard way and over the past few years placed most of it in the financial markets, losing as of last week, about two-thirds of it. He spread it around in accord with the advice of a "well regarded investment advisor" who sold him a "diversified portfolio" of mutual funds. Which brings us to the point:
These guys don't know one damned bit more about investing than you do.
Write that on your hand.
Like used car peddlers, they work for commissions.