OPM
The most important acronym in the lexicon of financial history.
And a damned one.
The most important acronym in the lexicon of financial history.
And a damned one.
Brokers are scum.
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Got a quick question for that newbie byobscalper.
Would love to answer the tons of simple questions from uneducated individuals.
Unfortunately, got to get ready for the trading week. Got to get my aircraft in for its first annual inspection.
Anyway, how about asking the COMPLAINERS who blame the brokers for the horrible stock ideas this:
When you dumped the brokers and opened up your Trade Station or other electronic account, who did you blame for your continuing losses?
Wait I know.
The corrupt brokers got together to bribe a Trade Station programmer.
They found out where your stops were right byob?
Then "THEY" ran those stops so they could make the $50.00 life savings you lost. Hmmmm they make $50.00 on the $10,000 bribe---not bad.
Here is another sad fact of life for low net worh newbies like you and your brokers. It is true there are a lot of horrible brokers out there. They are not mostly corrupt though.
JUST HORRIBLE AT WHAT THEY DO. Trust me. They would love for all their clients to double their money so they can double their commissions later.
But they are just too dumb. And whom do you think the dumbest of the dumb brokers get to do business with?
That is right byobscalper and his newbie friends.
When I was a financial consultant with Merrill Lynch, I did great for my clients.
Only one problem.
The minimum client I would accept was $5 million dollars.
Sort of leaves you out in the cold byobscalper, doesn't it.
Next time around in another life, try getting a larger net worth little guy. Size does matter.
When you do, doors will open up for you. You will get the super star advisor.
But for now yes, you do have to contend with Willie Loman and the dregs of investments.
Sorry about that.
Successfully,
Alex L. Wasilewski
Co-Founder & Head Trader
Trades That Work
www.puretick.com
1-877-GOLONG1 ( 1-877-465-6641 )
Would love to answer the tons of simple questions from uneducated individuals.
Unfortunately, got to get ready for the trading week. Got to get my aircraft in for its first annual inspection.
Anyway, how about asking the COMPLAINERS who blame the brokers for the horrible stock ideas this:
When you dumped the brokers and opened up your Trade Station or other electronic account, who did you blame for your continuing losses?
Wait I know.
The corrupt brokers got together to bribe a Trade Station programmer.
They found out where your stops were right byob?
Then "THEY" ran those stops so they could make the $50.00 life savings you lost. Hmmmm they make $50.00 on the $10,000 bribe---not bad.
Here is another sad fact of life for low net worh newbies like you and your brokers. It is true there are a lot of horrible brokers out there. They are not mostly corrupt though.
JUST HORRIBLE AT WHAT THEY DO. Trust me. They would love for all their clients to double their money so they can double their commissions later.
But they are just too dumb. And whom do you think the dumbest of the dumb brokers get to do business with?
That is right byobscalper and his newbie friends.
When I was a financial consultant with Merrill Lynch, I did great for my clients.
Only one problem.
The minimum client I would accept was $5 million dollars.
Sort of leaves you out in the cold byobscalper, doesn't it.
Next time around in another life, try getting a larger net worth little guy. Size does matter.
When you do, doors will open up for you. You will get the super star advisor.
But for now yes, you do have to contend with Willie Loman and the dregs of investments.
Sorry about that.
Successfully,
Alex L. Wasilewski
Co-Founder & Head Trader
Trades That Work
www.puretick.com
1-877-GOLONG1 ( 1-877-465-6641 )
I've given up on arguing with friends who pay annual fees to advisors. Even very smart people just don't seem to get it.
Another title idea:
"I couldn't trade my way out of a wet paper bag, so now I convince people to to give 3% annually to Edward Jones, regardless of performance."
A bit lengthy, but it's the industry in a nutshell.
Another title idea:
"I couldn't trade my way out of a wet paper bag, so now I convince people to to give 3% annually to Edward Jones, regardless of performance."
A bit lengthy, but it's the industry in a nutshell.
I know a few people with airplanes, but no one on earth seems to talk about it as much as you do.
Do you think that implies something about you that we should all take notice?
Kinda like the guy who leases his Beemer - 'Check out MY Beemer' he says 400 times a day.
Well its not YOUR Beemer, it's a lease you jagoff.
That's what I think when you talk about your stupid fuckin airplane, like anyone gives a shit.
You don't seem to get it.
Of course when you trade your own account you assume 100% responsibility.
When you have a broker offering you advice, it's STILL 100% your responsibility, BUT you have an accomplice to your actions.
This isn't about BLAMING brokers. It's about exposing the game plan of the shysters and showing the average investor who still needs full service which are the good ones and which are the scum.
There certainly are a lot of advisors who deserve their earnings, for example many commodity trading advisors. I think there are two main incentives that can make a good advisor/trader of OPM. First, profit sharing. Second, the advisor should put their money where their mouth is and trade their own account exactly the way they trade their clients'. That way they are incentivized by profits and penalized by losses (they'll lose both clients and their own funds). This can do a lot to prevent excessive risk-taking. The key is to put advisor and client on the same side of the table.
Admittedly this isn't quite right for personal financial advisors; it applies more for money managers, discretionary traders and even the full-service futures brokers who were the original subject of the thread.
Admittedly this isn't quite right for personal financial advisors; it applies more for money managers, discretionary traders and even the full-service futures brokers who were the original subject of the thread.