Lance Legs, is it still about the Capital
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Lance Legstrong,
Where have you gone? You havn't bad mouthed Jones in a long time. Is it still about the capital?
Here's a quote from a post you made Jan 23rd, 2005:
"Here is the link for the complete story.....Enjoy! Oh an btw there is EVEN more BAD News for EDJ just around the corner! Melt downs are easy when the core of the business is based on a CONFIDENCE SCHEMES! EDJ or any firm for that matter has NOTHING unique to offer to their brokers or clients except a perception of CONfidence. When that CON starts to be questioned by the brokers, the clients, the PROSECUTORS the Regulators and now even THE PRESS - melt downs can occur very quicky."
"If I were a Jones broker I would be preparing ASAP for a move. Take YOUR clients to calmer waters. Open your eyes the The STORM is just starting.....has anyone ever tried to move accounts from SIPC recievership? Why don't you ask the brokers up at Miller Johnson aka Stock Walk in MN. A few years ago $50 million book value was wiped out in three days and Southwest came in an just assumed the accounts...a huge mess!"
"Their $700 million capital base can start to erode rather quickly that of course compounded by client/broker exodus and the implications of that to revenue and profits. Anybody what to buy some Jones LP units? "
"Its The Capital Stupid!"
Take a look at Jones recent Statement of Financial Condition:
http://www.edwardjones.com/cgi/getData.cgi?file=/pdf/stateme nt_financial_condition.pdf
Is it still about the capital stupid?
TA
Lance Legs:
Cat got your tongue? You and your friends have been pretty quiet lately.
You, The Truth, Ulliminati, ExEJ1984, SoothSayer, uwec86, Malcolm, Jonestown, eddjones654 R.I.P.?
BPD
[quote=BigPayDay]Lance Legs:
Cat got your tongue? You and your friends have been pretty quiet lately.
You, The Truth, Ulliminati, ExEJ1984, SoothSayer, uwec86, Malcolm, Jonestown, eddjones654 R.I.P.?
BPD [/quote]
LOL...yes there is a lot less ranting these days re EJ!
I am still here BPD/Webster/Answer. It is just getting boring talking about the same thing. The fact that 95% of business goes to the preferred funds speaks volumes in itself. There is not much else you can say to change my mind about this practice. Jones is what it is. A firm that bottom feeds, will never attract the big hitters because who in the world would go there and a business model that is not set up to succees in the future.
What I would like to know is what is the average hold time of a fund that is transferred into Jones prior to being dumped for a preferred fund? You seem to confidently quote the average hold time of a fund that is purchased at Jones. What about the transfers. Be truthful for once here. I bet your firm doesn't keep this statistic do they?
False,
And what great firm are you affiliated with?
BPD
P.S. As far as Jones’ seccess in the future. Take a look:
http://www.edwardjones.com/pdf/PressKitMap.pdf
Well I guess I am famous!
The EDJ boys are good at sugar coating and bribing their way to those phony awards.
But answer this AssMan; Why is it that EDJ can not issue any more of the goofy LP units to the Kool Aid Kids? I will tell you why - The litigation storms are still pending between the class action suits and the California AG thats why. They are going after over $500 from EDJ and there is no law firm in the world that will give a legal opinion to the contrary! If they prevail then it is Aaaadios EDJ. And we will have a nice laugh!
Face the facts EDJ is a big scheme to skim money from goofy clients who have trusted their EDJ brokers. All the EDJ guys do is buy American Funds which are basically underperforming index funds. Helping Investors! -what a fricken joke! Nothing more than organized crime!
Now go back to your cube and worry about your Xmas bonus!