why is everyone in the Securities Industry a Dimwit

[bwolinsky]

Quote from chewbacca:

wall street bank ceos and executives - i saved the worst for last.......they are the biggest welfare queens in the world right now.

Your statements read like an immature, stupid teenager.... Securities people do make money, they just have so many stipulations of what they can and can't do with your money that, of course, it turns out crappy. I think you should blame regulation over anything.

And, yes, I'm in the industry, but the problem has to do with the stated objectives of each individual. We are required by law to document your objectives, and we choose investments accordingly. Whether those investments go down or up as long as we documented our reasoning, and assuming the benchmarks were properly selected, there's not really anything we can do about declining equity values.

If you're only down 25% this year, you've done well, which is what I can say to my clients. Anyway, I'd like to see if you saw it coming, because I would doubt it. It's all hindsight.

 

[bwolinsky]

Quote from chewbacca:

mutual fund managers - these mofos have worse than zero skills........they get their ass handed to them by a completely passive buy and hold indexing strategy........yet they manage trillions

401k administrators...........most 401k plans FORCE people to invest in shitty mutual fund managers by not offering any decent ETF index funds


stockbrokers........these cunts would rather cold call to make $6/hour rather than work in construction like a real man

On the mf managers, they required to keep with their stated objectives. This is part of regulatory interference than about the manager.

401k adminstrators mostly get their advice straight from the custodian that dicks them over with the most expensive funds that they can sell. As an independent advisor I am one of the only few that does offer ETF 401k plans.

Stockbrokers... I hate them, too. They can really dick you over with 5% or 8% loads on crap mutual funds, but I don't as a fee based advisor. Why do you think Buffet says to avoid load mutual funds of any kind? They're not interested in your long term performance, because they got you. There is a significant conflict of interest when working with brokers that you don't realize until after the sale. Once they get 5% of your money, I guarantee they have 0 incentive to help you after that if that's the only money you have. Then they get into churning if you want to just have stocks.

 

[tradersboredom]

Not by law.

When investors buys the type of investment fund, he/she is buying the fund rules and regulations. investor wouldn't care less who is managing it.

fund managers makes his money or salary on getting attracting clients.

Quote from bwolinsky:

Your statements read like an immature, stupid teenager.... Securities people do make money, they just have so many stipulations of what they can and can't do with your money that, of course, it turns out crappy. I think you should blame regulation over anything.

And, yes, I'm in the industry, but the problem has to do with the stated objectives of each individual. We are required by law to document your objectives, and we choose investments accordingly. Whether those investments go down or up as long as we documented our reasoning, and assuming the benchmarks were properly selected, there's not really anything we can do about declining equity values.

If you're only down 25% this year, you've done well, which is what I can say to my clients. Anyway, I'd like to see if you saw it coming, because I would doubt it. It's all hindsight.

 

[NeoRio1]

Quote from bwolinsky:

On the mf managers, they required to keep with their stated objectives. This is part of regulatory interference than about the manager.

401k adminstrators mostly get their advice straight from the custodian that dicks them over with the most expensive funds that they can sell. As an independent advisor I am one of the only few that does offer ETF 401k plans.

Stockbrokers... I hate them, too. They can really dick you over with 5% or 8% loads on crap mutual funds, but I don't as a fee based advisor. Why do you think Buffet says to avoid load mutual funds of any kind? They're not interested in your long term performance, because they got you. There is a significant conflict of interest when working with brokers that you don't realize until after the sale. Once they get 5% of your money, I guarantee they have 0 incentive to help you after that if that's the only money you have. Then they get into churning if you want to just have stocks.

Yes but if you knew anything about markets and anything about those objectives than you would never become a mutual fund manager.

 

[bwolinsky]

Quote from tradersboredom:

Not by law.

When investors buys the type of investment fund, he/she is buying the fund rules and regulations. investor wouldn't care less who is managing it.

fund managers makes his money or salary on getting attracting clients.

You've never been in an audit. Believe me, it's the law.

But you get the point anyway. Whatever the objectives of the fund are guides the manager or the team of managers into picking stocks. Mostly on screens that are heavily geared towards specific sectors.

 

[bwolinsky]

Look up SENBX. I've met the manager, and the only thing I've ever heard about him was picking worthless stocks in the 80's. Now he's really taking a bath. Just so you know, he charges 2.25% up front.

 

[bwolinsky]

Quote from NeoRio1:

Yes but if you knew anything about markets and anything about those objectives than you would never become a mutual fund manager.

Probably not, but Wall Street needs something to sell. I think Buffet's done well as a public investment manager.

There's good MF managers out there. Most of them are in private equity now, though, but I can't say that has been an advantage.

 

[athlonmank8]

lol the title is so true. money is like a magnet unfortuantely

 

[golfbarron]

Quote from chewbacca:

muthafucking nasdork..........yeah i'm hatin cause i have an Moral Obligation to hate these dimwit cunts

I agree with you 100 fucking percent.