Article on the truth about Wall Street

[Travelwanted]

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

 

[Chuckanut]

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?

 

[Helen]

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:

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/ICS/Summit-Video-Taboola?promo_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.

 

[Chuckanut]

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.

 

[walkinwood]

An article? That's an informercial!

 

[6miths]

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.

 

[ReadySkiDaddy]

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.

 

[Travelwanted]

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.

 

[jon-nyc]

I quit reading when they called Bogle a billionaire.

 

[pb4uski]

Crazy talk.

 

[M Paquette]

Scott Adams can explain this to everyone.