How many here started in their 40's?

Robert Morse said:
I'm personally not comfortable with being long the market with 100% of my savings, ALL the time. I prefer an active manager, so I use CTAs.
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I wouldn't use any kind of advisor. If they are smart enough to be advising you, then they should be smart enough to make their own money and not be bothered advising you. Also, I would never put my money at risk based on someone else's opinion. If I am going to blow up my account, its going to be based on my own doing and not some advisor's.

Although advising people does seem like a nice business. You collect some nice money, have none of your money at risk, and all the people who failed using your advise are conveniently left out of the monthly news letter that you send to clients or potential clients.
 
wildchild said:
I wouldn't use any kind of advisor. If they are smart enough to be advising you, then they should be smart enough to make their own money and not be bothered advising you. Also, I would never put my money at risk based on someone else's opinion. If I am going to blow up my account, its going to be based on my own doing and not some advisor's.

Although advising people does seem like a nice business. You collect some nice money, have none of your money at risk, and all the people who failed using your advise are conveniently left out of the monthly news letter that you send to clients or potential clients.
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what u mean by the term advisor? advisors who are good bother with advising others cuz they get an incentive fee (percentage of your profits)

u wouldnt put ur money with anyone else? not even top advisors (which i assume term here is same as traders) not even paul tudor jones? bruce kovner? the implication here is that u dont believe anyone can trade better than u? is that a safe assumption based on the fact u wont put ur money anywhere???

just inquiring,
 
systematictrader said:
what u mean by the term advisor? advisors who are good bother with advising others cuz they get an incentive fee (percentage of your profits)

u wouldnt put ur money with anyone else? not even top advisors (which i assume term here is same as traders) not even paul tudor jones? bruce kovner? the implication here is that u dont believe anyone can trade better than u? is that a safe assumption based on the fact u wont put ur money anywhere???

just inquiring,
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You proved my point exactly. If I make money they take a cut. If I lose money, they aren't going to bother returning my calls. They reap the benefits when I do good and share in none of the risk if things go bad. The really cool thing they have going for them is they have approximately a 50% chance of being right. What ever security you trade is going to go up or down so the advisor gets to flip a coin and if it lands on the correct side they are geniuses if it lands on the wrong side, its because the investor didn't do exactly what they told him. Its a nice set up for them, a bad set up for the investor.
 
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