Who exactly is buying?

Quote from oldtime:

when they reach a certain age, you are no longer managing it for them, because they are set for life, but for your cousins who will eventually inherit it. I try to set them up so they don't have to make quick decisions.
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they don't even know their screen names or passwords. They trust me 100%. It's always tempting to go back into broker mode and go long for an aunt and short for an uncle, just so I don't end up looking like a total screw up.
 
Quote from Tsing Tao:

Yeah, they should be in the stock market! What's that? A good bunch of them got wiped out in 2008 and decided to never trust the market again? Shame, that. They could always get in now. Of course, when they do, it'll wipe them out again (if they've got anything at all in the first place). Wall Street steals from seniors, widows and orphans. It is the ultimate predator, and never held accountable.
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You can add the FED to this list too.
 
oldtime you mentioned the breakdown a few times and have said odd things on here too. i don't know if you would be my go to person with my money but i wish you well.
 
Quote from brokerboy:

oldtime you mentioned the breakdown a few times and have said odd things on here too. i don't know if you would be my go to person with my money but i wish you well.
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compared to trading, investing is a piece of cake

plus, over there in investing they let you average down

my clients are pretty happy, because every month they get their check, and don't have to worry about what it takes to get it
 
it's actually a pretty awesome responsibility, when you are managing every penny someone has accumulated through a lifetime of hard work, and they don't know the difference between an "aggressive growth" fund and a "dividend growth" fund

and you have to decide how much they should be in stocks and how much they should be in bonds

and you have to think how it is all going to end up and get divided when they die

too bad they aren't all just Warren Buffet and can stay 100% in stocks at all times

wouldn't it be nice if it was all just that simple?
 
and then, after you finally made them money, you have to ask yourself, "Did I make them money, or did the dollar just go down?"
 
I only manage one trading account, and that is for a nephew that has balls for brains. I trade his forex account just like I trade my own. With the understanding that I could take 50% of his profits and invest them over at Vanguard.

We very rarely talk.

I just saw him at a Mother's Day party and he still can't understand why he didn't get a tax refund in 2012.

So far, over there at Vanguard, I just have him invested in his brokerage account in the Akre Focus Fund

It's been doing ok
 
Quote from Visaria:

Is it better to buy SPY or buy the equivalent in ES?
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this question has been asked and there are quite detailed answers

the general consensus was, long term, SPY had the edge

it has to do with dividends and rolling out

surprised me, because I thought I could just put up the margin on es, and invest the rest

but apparently that is not the case
 
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