Managed Money
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What is the challenge if you are simply raising money for somebody else to manage?
Why should I, as an investor, need your services when there are several thousand mutual funds for me to choose from on my own?
If I spend a weekend in the library reading Morningstar, Money Magazine and a few other things could I not do as good a job as you could at choosing a family of mutual funds?
[quote=Tough Questions]
What is the challenge if you are simply raising money for somebody else to manage?
Why should I, as an investor, need your services when there are several thousand mutual funds for me to choose from on my own?
If I spend a weekend in the library reading Morningstar, Money Magazine and a few other things could I not do as good a job as you could at choosing a family of mutual funds?
[/quote]
You sir, are a legend in your own mind and probably can do anything you PUT your mind to.
I bet you wouldn't even need to read morningstar....just utilize your superior intellect......
[quote=Tough Questions]
What is the challenge if you are simply raising money for somebody else to manage?
Why should I, as an investor, need your services when there are several thousand mutual funds for me to choose from on my own?
If I spend a weekend in the library reading Morningstar, Money Magazine and a few other things could I not do as good a job as you could at choosing a family of mutual funds?
[/quote]
If all you're trying to do is put together a list of the recent "hot dots" in mutual funds with no mind towards correlation of the funds to each other, no consideration of overlapping holdings and investment styles and strategies, no concern over future volatility and no consideration of the goals you’re really investing for, by all means, go to the library. <?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />
the fact that people will typically buy high and sell low is why advisors are around
[quote=NeverShort]
If all you're trying to do is put together a list of the recent "hot dots" in mutual funds with no mind towards correlation of the funds to each other, no consideration of overlapping holdings and investment styles and strategies, no concern over future volatility and no consideration of the goals you’re really investing for, by all means, go to the library.
[/quote]
Anybody reading this forum knows that there are no education requirements and that the qualification exams can be passed with virtually no effort.
Consequently why could the average person not be more effective at choosing their own funds and save several percentage points in return?
What do you do for your fee that a bright man or woman cannot do on their own?
Consider this.
Somebody who reads this board finds young people hailing each other with celebrations of how little they are educated and how low they score on their qualification exams, while also pretending to be professionals.
What are the adults supposed to think?
[quote=Tough Questions]
Consider this.
Somebody who reads this board finds young people hailing each other with celebrations of how little they are educated and how low they score on their qualification exams, while also pretending to be professionals.
What are the adults supposed to think?
[/quote]
Put, we adults feel you -- no matter how ancient your chronological age -- are infantile of mind.
Re RR exams, the horse is dead; quit beating him. You don't get it, you will never get it. You're still just upset about all the people in our business who scored lower than you, and have succeeded much greater than you. Get over it.
Do you hunt for your own food? I am sure someone as capable and as smart as yourself would not need a grocery store to provide you with something that any person with two legs and a little effort could go out and do their self. Let me guess, you probably built your own form of transportation as well. You probably learned how to build gasoline motors on weekends reading Motor Trend in the library.
[quote=mrad]Now that was entertainment!!![/quote]
But the question remains unanswered.
Is it possible that you young people are this generation's buggy whip makers. That you are going to spend your days trying to convince people that they should pay you to do something that they can do themselves?
How many of you figure that smart people--those with money to invest are smart--are not aware of the fact that there are such things as no load funds?
How many of you figure that smart people--those with money to invest are smart0--are not aware of the fact that if they do want some advice and counsel that there are fee only financial planners?
I suggest that the death knell for this industry was first heard when the decision was that the job no longer required native intellect.
With full knowledge of how it makes me sound like a "....and we used to walk through the snow to school" type.
When I was hired we took IQ tests to determine how smart we were, not if we were dumb enough to not become bored by the mind numbing routine of talking about mutual funds.
When we wrote we actually tried to spell things correctly, and we knew to capitalize the first word of a sentence.
And when somebody said that we had to take a test to prove what we knew we wanted to smoke that thing instead doing enough to barely pass.
The industry has "dumbed down" and the reason that it happened is because it's going out of business.
The day of the Internet has arrived. The day of the fee only planner has arrived. Even the NYSE is dying.
The brokerage firm is dead, long live the brokerage firm.
Just because we are young does not make us stupid.
If you beleive that no-load companies are are not in it to make a buck, then you are not a smart person. Last time I checked VanGuard was not a non-profit organization.
Fee only planners will sell you mutual funds as well. And you wont be paying less.
[quote=Cruiser]
Fee only planners will sell you mutual funds as well. And you wont be paying less.
[/quote]
Tell me how that works. How does a fee only planner get more of my assets than their hourly fee?
As for the comment about being young and therefore stupid. It's a sad commentary on our society, but yes it is a safe conclusion to determine that young people are stupid.
Well, not stupid I suppose--but ignorant. It's got to do with leveling the playing field. It is impossible to make everybody in a society smart, but it is possible to make them equally as ignorant.
Just stop teaching things.
Tell me something. If you are not taught that water is composed of two hydrogen molecules and one oxygen molecule how will you come to know it?
What happens in a society when kids who were not taught something become the teachers? How can a teacher teach what they don't know themselves?
[quote=Tough Questions]
[quote=NeverShort]
If all you're trying to do is put together a list of the recent "hot dots" in mutual funds with no mind towards correlation of the funds to each other, no consideration of overlapping holdings and investment styles and strategies, no concern over future volatility and no consideration of the goals you’re really investing for, by all means, go to the library.
[/quote]
Anybody reading this forum knows that there are no education requirements and that the qualification exams can be passed with virtually no effort.
Consequently why could the average person not be more effective at choosing their own funds and save several percentage points in return?
[/quote]
The same reason that can be attributed to most failures..."lack of motivation".
Usually there is a secondary cause that limits motivation such as lack of education or lack of time.
[quote=menotellname]
The same reason that can be attributed to most failures..."lack of motivation".
Usually there is a secondary cause that limits motivation such as lack of education or lack of time.
[/quote]
Yet investors are supposed to put their faith in individuals who brag about being unmotivated and uneducated?
Earlier you suggested that we don't ask professionals how they scored on various tests, and I agree we don't.
Do you suppose a patient would get up and leave an examining room if the doctor were to say, "....and I graduated last in my class and scored the minimum acceptable grade on my medical boards."
Again I ask, what is worthy of being celebrated when one barely accomplishes a goal?
Should a parent praise a child who brings home all D's because there are no F's?
Tough Questions-Avg mutual fund investor averages 2.6% while market returns over 10%… I guess do it yourself really works. Why don’t you ask yourself a real tough question… Why has my life turned out like this, I can’t even get people I have never met to pay attention to me much less the people I work with ?////
[quote=noggin]Tough Questions-Avg mutual fund investor averages 2.6% while market returns over 10%.... I guess do it yourself really works. Why don't you ask yourself a real tough question.... Why has my life turned out like this, I can't even get people I have never met to pay attention to me much less the people I work with ?////[/quote]
Please source the stats.
Why should an investor pay you a percentage of his assets every year when he can pay a fee only planner a few hundred dollars once?
pathetic old man… It truly does depict you as a lonely man with few hobbies when you are constantly being removed from this site yet you insist to sneak back into the building wearing a new set of wig and glasses… 26 posts in your first day using this creation… move on with your life… your posts have been amusing but you need to let it go…