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Article on the truth about Wall Street
02-24-2015, 06:15 PM
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#1
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Recycles dryer sheets
Join Date: Mar 2014
Location: Islands
Posts: 363
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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
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02-24-2015, 06:53 PM
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#2
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Aug 2011
Location: West of the Mississippi
Posts: 17,263
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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?
__________________
Comparison is the thief of joy
The worst decisions are usually made in times of anger and impatience.
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02-24-2015, 07:08 PM
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#3
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Thinks s/he gets paid by the post
Join Date: Oct 2004
Location: Portland
Posts: 2,038
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 Quote:
Originally Posted by 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?
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It's an infomercial for a stock picking system that is back tested to prove its accuracy:
Quote:
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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.
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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.
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02-24-2015, 07:21 PM
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#4
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Aug 2011
Location: West of the Mississippi
Posts: 17,263
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Quote:
Originally Posted by Helen
It's an infomercial for a stock picking system that is back tested to prove its accuracy:
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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. 
__________________
Comparison is the thief of joy
The worst decisions are usually made in times of anger and impatience.
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02-24-2015, 10:51 PM
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#5
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Thinks s/he gets paid by the post
Join Date: Jul 2006
Location: Denver
Posts: 3,519
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An article? That's an informercial!
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02-24-2015, 11:16 PM
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#6
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Thinks s/he gets paid by the post
Join Date: Feb 2013
Location: Toronto
Posts: 3,321
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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.
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02-25-2015, 12:27 AM
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#7
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Dryer sheet aficionado
Join Date: Jun 2012
Location: Los Angeles, CA
Posts: 48
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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.
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02-25-2015, 04:55 AM
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#8
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Recycles dryer sheets
Join Date: Mar 2014
Location: Islands
Posts: 363
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 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.
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02-25-2015, 05:03 AM
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#9
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Full time employment: Posting here.
Join Date: Mar 2011
Posts: 534
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I quit reading when they called Bogle a billionaire.
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02-25-2015, 09:20 AM
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#10
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,370
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Crazy talk.
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.
Retired Jan 2012 at age 56
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02-25-2015, 11:46 AM
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#11
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Moderator Emeritus
Join Date: Oct 2007
Location: Portland
Posts: 4,946
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Scott Adams can explain this to everyone.
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