Which of the following investments should be avoided according to common investor advice?

Investing through telephone brokers is often viewed with caution due to several concerns. This practice, which involves conducting investment transactions over the phone rather than through a more modern medium such as online platforms, can lead to difficulties in communication and the potential for misunderstandings about the specifics of a trade. Additionally, the fees associated with using a telephone broker can be higher compared to more straightforward online options or trading platforms, which may adversely affect overall investment returns.

Many financial advisors advocate for more transparent and easily accessible investment strategies. Options like index funds and real estate typically provide greater diversification and tend to have lower fees, making them generally more favorable for long-term investors. Savings accounts are often recommended for their safety and liquidity, although they do not offer significant growth potential. Hence, the advice to avoid utilizing telephone brokers aligns with the broader recommendation to seek out investment methods that are transparent, cost-effective, and suited for efficient communication.