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    Sean BrodyHamilton Nolan
    8/17/15 4:18pm

    I have taken this advice on my 401k. Counting on you, HamNo.

    Seems like the way to go with savings too. There isn’t a savings account out there that seems to be offering more than 1%
    At least the S&P is up 2% on the year.

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      TaternutsAnonSean Brody
      8/17/15 4:23pm

      Are you using S&P etfs in lieu of a savings account or did I miss read that?

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      Sean BrodyTaternutsAnon
      8/17/15 4:28pm

      Are you using S&P etfs in lieu of a savings account or did I miss read that?

      13% of my gross goes straight to a S&P low cost index fund for my 401k.
      I’ve recently got a decent raise and have paid off a loan early. I have extra income that I would like to save toward, well, I don’t even know what, and I have been looking at savings accounts. There’s nothing good out there.
      I’ll probably just call Schwab or someone and get something similar to my 401k, but that I can access.

      It’s embarrassing to be this ignorant about something this important.

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    festivusaziliHamilton Nolan
    8/17/15 4:16pm

    Hedge funds are incredibly efficient at transferring value from client to manager.

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      UncleCCClaudiusfestivusazili
      8/17/15 4:39pm

      The value then rains onto the Adult Entertainment Industry and hoovers into the International Drugs Trade.

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      RedRobin84UncleCCClaudius
      8/17/15 4:48pm

      See? Trickle-down economics totally work!

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    DinkoidHamilton Nolan
    8/17/15 4:22pm

    Probably why myself and other milennials are stuck living by the code of FIHTMITM (Fuck It, Hide The Money In The Mattress). That, and we don’t know shit about finance. B-b-but muh trigonometry!

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      clickbaitandswitchDinkoid
      8/17/15 4:30pm

      Is it because you never learned the value of a dollar, young whippersnapper?

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      NoButWait Hates Your GoT Fan TheoriesDinkoid
      8/17/15 4:34pm

      I can’t afford a whole extra mattress to store my money in, and I can’t store it in my sleeping mattress. ‘Cause it’s for a-sleepin’ on.

      What’s a poor to do?

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    notsomethingstructuralHamilton Nolan
    8/17/15 4:35pm

    Warren Buffet bet a set of hedge fund managers $1m that their fund (post fees) wouldn’t return better than the S&P500 over 10 years, with the proceeds going to charity. Settles 12/31/17. Looking forward to the results.

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      Otto Brumsteinnotsomethingstructural
      8/17/15 5:10pm

      The hedge fund manager that is getting destroyed in the bet wrote a list of excuses and called the bet a tie. It’s revolting.

      http://www.businessinsider.com/fund-manager-e…

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      Death BlowOtto Brumstein
      8/17/15 7:27pm

      Yup, Protege is getting slaughtered right now, and there’s no way they come out of this looking good for themselves OR for their industry.

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    HaighaHamilton Nolan
    8/17/15 4:41pm

    Actually, they’re a great way to reward your friends, if you’re the Governor and suddenly the state’s pension system is moving money into funds managed by donors to either you or causes important to you.

    Sure, over a period of a few years they might underperform indexed funds by billions, but hey, as you pointed out, it’s not like there’s an easy metric to figure out if one is objectively better than the other!

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      mUrnRHaigha
      8/17/15 4:46pm

      Wondering how many stars this will get. My prediction is few, but I could be wrong. Gawker loves government.

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      HaighamUrnR
      8/17/15 5:27pm

      I don’t mind government - this is crony capitalism. The crooked hedge funds aren’t government and are still crooked. Also, just to be clear, I’m talking about New Jersey, and the Governor involved is Christie.

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    dothedewHamilton Nolan
    8/17/15 4:52pm

    If you are really looking for an edge and have lots of money, probably pays to invest in fund of funds. You get to pay an extra set of fees to the “manager” choosing which hedge funds to invest you in, then the normal fees to the manager of the hedge fund, all for benefit of getting to spread your money around to a bunch of shitty hedge funds.

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      MsMenstruationHamilton Nolan
      8/17/15 4:14pm

      The .001% are very thankful that you’re looking out for them with all this “hedge funds are bad investments” reporting.

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        Gaying Mantis TobogganMsMenstruation
        8/17/15 4:43pm

        They’re stealing money from millions because they also manage pension funds for millions of people. We’re letting a few hundred people make enormous profits off of millions of people and returning little to nothing to actually costing us money. I say us because a lot of those pensions are government pensions that people have paid into for decades and all because one politician has some hack friends who pay their way to play with our money comes along and starts destroying people’s pensions to score donations and votes. It’s disturbing.

        Nobody needs to tell me how useful the funds are for blah blah weird reason that makes no sense because other things that cost less can do the exact same thing. Exact same thing for a much cheaper price and, much more importantly, doesn’t fund the lifestyles of disturbingly wealthy douche bags.

        The populace has the right to police financial actions.

        (Not directed at you, for all I know you agree with the thesis here.)

        Hamilton Nolan

        previouslyprommie

        8/17/15 4:22pm

        They do something; they siphon money into the pockets of hedge fund managers. Ask the hedge fund guys who contributed to Christie and were rewarded by receiving a portion of the State of New Jersey’s public worker retirement investments. The fees they have charged almost exactly equal this year’s shortfall in payments into the fund. Now Christie is going to have to reform the public workers right in the ass, good and hard, to make up for the lost money. If you don’t like it, says Christie, reform you. You can go reform yourself. Retirement reform! Entitlement reform! They’re going to reform us so hard we won’t know shit from Tuesday.

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      clickbaitandswitchHamilton Nolan
      8/17/15 4:25pm

      They are there to lay some dough on me for my traditional fixed-rate 30 year mortgage for my new Condo in Waltham, I’m sorry “Servicing” the loan and the faceless people who send me docuSign emails until they sell it to Countrywide in 14 hours after the closing. Mommy.

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        FauxhemianRhapshodyHamilton Nolan
        8/17/15 4:45pm

        I always thought it was more of a country-club approach. Investing in the right hedge fund was more of a “you made it” high net worth activity and that it was the cost of being part of the high society. A 1% tithe, if you will. Gets you access to the right political fundraisers, yacht clubs, whatever. It’s the cost of friendship.

        Kind of like your wife’s asshole friend who sells the jewely or the bags or whatever. If you don't place an order, they won't be friends with you anymore.

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          Frankenbike666Hamilton Nolan
          8/18/15 2:11am

          This is how money moves uphill, and lets the 0.8% rob the 2% blind.

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