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Why I Fired My Broker

Discussion in 'Shares' started by Tropo, 19th Apr, 2009.

  1. Tropo

    Tropo Well-Known Member

    Joined:
    17th Aug, 2005
    Posts:
    3,394
    Location:
    NSW
    Why I Fired My Broker

    ...I’ve learned, however, that it’s quite possible to ride the Dow 30 a far way along the risk curve.
    And I’ve learned another thing: I once believed that a buy-and-hold strategy would make me rich. This was a mistaken belief.
    “The economy comes in cycles,” Robert Soros said. “If you believe that the economy is not cyclical, then buy-and-hold is for you.
    ” He taught me a Wall Street expression: “An investment is a trade gone bad.”
    more....The Atlantic Online | May 2009 | Why I Fired My Broker | Jeffrey Goldberg
     
  2. AsxBroker

    AsxBroker Well-Known Member

    Joined:
    8th Sep, 2007
    Posts:
    1,448
    Location:
    Sydney, NSW
    Interesting article Tropo...
    There are some great things that made me laugh...see below

    Lol, I wonder if he pressed the walk button first?

    Isn't this the Global Financial Crisis which started in the US Finance industry? Surely this would mean the real-estate prices would drop as a higher percentage of home owners lost their jobs with the finance industry slowing so quickly?

    Was your contact really a financial adviser? I think not...More a stockbroker who tells someone which stocks to buy or sell, not a financial planner or adviser who is involved in the client's whole situation.

    The Mutual Fund manager...crickey, it would have been in the offer document (I don't know what the US call a Product Disclosure Statement but that is where the information is on who runs them).

    And you forgot the media of that financial pornography which you were reading...Oh, that's right your a cog in that financial pornography...And even follow the recommendations...

    Lol...Does this mean he got chucked by Chuck? Surely there is a reason why Etrade, Schwab, etc are called Discount Brokers? Oh, that's right, they don't give advice...

    Very true about all media around the world...Even the author of this article couldn't say no...

    I think for the time being I'll skip this handy tips...

    And the wife would have moved his bottled water out if he said he wasn't going to share it!!!

    This is so so true...Same stock, different times...

    Yes it was a little late...

    Cheers,

    Dan
     
  3. Tropo

    Tropo Well-Known Member

    Joined:
    17th Aug, 2005
    Posts:
    3,394
    Location:
    NSW
    Yeh...I like his humour too...:D
    My favourite one = “I took a random walk down Wall Street and got hit by a bus.”
    Last time when I took a walk down the Wall Street there were no buses (hahahaaa...:p), but few armed cops, and few fat guys smoking half a meter long Havana cigars.