Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Article on the truth about Wall Street
Old 02-24-2015, 07:15 PM   #1
Recycles dryer sheets
 
Join Date: Mar 2014
Location: Islands
Posts: 330
Article on the truth about Wall Street

I know this is well known by most. But it is a great article for many who are trying to figure out if financial advisors are with it. Thankfully I have become a Boglehead. It now saves me so much money I feel much more confident about ER.

Billionaires Decry Blatant Wall Street Theft of Retirement Assets
__________________

__________________
Travelwanted is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 02-24-2015, 07:53 PM   #2
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Chuckanut's Avatar
 
Join Date: Aug 2011
Location: West of the Mississippi
Posts: 6,326
I wonder if they are really arguing for not investing in index funds. After all, there must be a lot of dead weight in the index. The article seems short on details. Or am I missing something?
__________________

__________________
The worst decisions are usually made in times of anger and impatience.
Chuckanut is online now   Reply With Quote
Old 02-24-2015, 08:08 PM   #3
Thinks s/he gets paid by the post
Helen's Avatar
 
Join Date: Oct 2004
Location: Portland
Posts: 1,343
Quote:
Originally Posted by Chuckanut View Post
I wonder if they are really arguing for not investing in index funds. After all, there must be a lot of dead weight in the index. The article seems short on details. Or am I missing something?
It's an infomercial for a stock picking system that is back tested to prove its accuracy:

Quote:
So in order to make sure that the investment system you’re about to see was fully vetted, with unquestioned accuracy and money-making power, I had the results back-tested and verified by a Professor of Accounting at Duke University.
Here is a link to the transcript of the video: https://w3.newsmax.com/LP/Finance/IC..._code=otrynrb3

These guys are scum. They throw out names like John Bogle and terms like Modern Portfolio Theory to con those who know enough to be dangerous into thinking this system is valid.
__________________
Helen is online now   Reply With Quote
Old 02-24-2015, 08:21 PM   #4
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Chuckanut's Avatar
 
Join Date: Aug 2011
Location: West of the Mississippi
Posts: 6,326
Quote:
Originally Posted by Helen View Post
It's an infomercial for a stock picking system that is back tested to prove its accuracy:

.
Thanks, as soon as I get my Time Machine fixed (the part won't be available until at least 2063 since it hasn't been invented yet) I will consider going back in time and use their method to make a fortune.
__________________
The worst decisions are usually made in times of anger and impatience.
Chuckanut is online now   Reply With Quote
Old 02-24-2015, 11:51 PM   #5
Thinks s/he gets paid by the post
walkinwood's Avatar
 
Join Date: Jul 2006
Location: Denver
Posts: 2,676
An article? That's an informercial!
__________________
walkinwood is offline   Reply With Quote
Old 02-25-2015, 12:16 AM   #6
Thinks s/he gets paid by the post
 
Join Date: Feb 2013
Location: Toronto
Posts: 1,415
Had that feeling to it. I was waiting for the explanation of the simple way to avoid the Wall Street trap. The three fund portfolio. I didn't see it there and figured they must be selling something else.
__________________
6miths is offline   Reply With Quote
Old 02-25-2015, 01:27 AM   #7
Dryer sheet aficionado
 
Join Date: Jun 2012
Location: Los Angeles, CA
Posts: 48
MoneyNews: The same site that brought us "Billionaires dumping stocks: Economists know why", an article that has been calling for a 90% stock market crash since 2012 so that they can sell books and crap. The way to get people's attention is to scare them.

Aside from that, are financial advisers worth it? Certainly not the non-fiduciary ones. I do it myself. If you can't then hire a fee-only adviser on a one-time basis. Everyone else will sell you expensive crap.
__________________
ReadySkiDaddy is offline   Reply With Quote
Old 02-25-2015, 05:55 AM   #8
Recycles dryer sheets
 
Join Date: Mar 2014
Location: Islands
Posts: 330
Oops. . .I meant the reality of the Wall Street taking all the profits. Clearly I did not read further into it.

I was trying to encourage others to go their own way like Bogle advocates.
__________________
Travelwanted is offline   Reply With Quote
Old 02-25-2015, 06:03 AM   #9
Full time employment: Posting here.
 
Join Date: Mar 2011
Posts: 534
I quit reading when they called Bogle a billionaire.
__________________
jon-nyc is offline   Reply With Quote
Old 02-25-2015, 10:20 AM   #10
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
pb4uski's Avatar
 
Join Date: Nov 2010
Location: Vermont & Sarasota, FL
Posts: 16,412
Crazy talk.
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.
pb4uski is offline   Reply With Quote
Old 02-25-2015, 12:46 PM   #11
Moderator Emeritus
 
Join Date: Oct 2007
Posts: 4,929
Scott Adams can explain this to everyone.

__________________

__________________
M Paquette is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Interesting reading from The Wall Street Digest wstu32 FIRE and Money 11 01-06-2006 08:21 PM
Wall Street Journalhttp://online.wsj.com/public/us Martha Other topics 3 11-08-2005 09:29 PM
Real Scoop on Wall Street otako Other topics 2 07-13-2004 08:49 PM
The Truth on Wall-Street? otako Young Dreamers 2 07-13-2004 08:47 PM
Wall Street Journal-how to get it freeeeee. mickeyd Other topics 5 07-13-2004 06:36 PM

 

 
All times are GMT -6. The time now is 11:09 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.