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    King_jaffe_jofferHamilton Nolan
    6/08/16 11:46am

    That’s why you got to jump into penny stocks. I gained 36% just today!

    Now I’ve lost 50%

    Now up 8%!

    Okay now I’m broke.

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      Dave King_jaffe_joffer
      6/08/16 11:51am

      I’ve given all my money to a nice boy in Nigeria to help his Uncle the Financial Minister move some funds out of the country!

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      Vox PopulistKing_jaffe_joffer
      6/08/16 11:55am

      Didn’t the Wolf of Wall Street teach you that you’ll only be successful when you’ve downed a couple of Quaaludes before you start messing around with your portfolio.

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    Will Save Us From Trump's MadnessHamilton Nolan
    6/08/16 11:46am

    It baffles me why very wealthy people don’t simply index. If you have $20,000,000 invested in the S&P, you’ll average $1,800,000 yearly in dividends plus appreciation. And, you’ll pay negligible fees. Why trust your money to guys who overthink the market and take a cut whether you win or lose?

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      Vox PopulistWill Save Us From Trump's Madness
      6/08/16 11:53am

      What makes you think they don’t also do that. If you have billions, then you have more than enough money to divest in a variety of capitalist schemes. Land grabbing, natural resources, the art market, buying baller teams, crashing the housing market, giving some hedge fund jerk with big promises a couple of millions of monopoly money to play with - and a big-ass index fund for a rainy day.

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      Will Save Us From Trump's MadnessVox Populist
      6/08/16 11:56am

      Of course they do. My point is that hedge fund managers are generally overrated to the point of insanity.

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    icanneverremembermyburnercodeHamilton Nolan
    6/08/16 11:51am

    Had a client two weeks ago that I was reviewing his brokerage for. He had been with the same financial advisor for 20 years and was 100% loyal. He talked and talked about how great the guy was and how he was looking after his best interests. I looked at his statements and his allocations were a mess, he was invested in funds he had no business being invested in based on his financial goals and risk tolerance, and his average rate of return over those 20 years was 2.9%. I was floored. I showed him what his return would've been had he only invested in an index fund and I thought he was going to set himself on fire. He's lost out on over 500k because his advisor was a fucking idiot.

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      Noneicanneverremembermyburnercode
      6/08/16 1:10pm

      Incredible. I wonder how that would shake out now that the fiduciary responsibility rules are in effect.

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      icanneverremembermyburnercodeNone
      6/08/16 1:35pm

      The exact same. It was non retirement account. The new rules only pertain to retirement assets.

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    BeABigRedOneHamilton Nolan
    6/08/16 11:52am

    Survey after survey shows that the average investor has a very limited grasp of stock market realities, and expectations are VERY unrealistic. For example, few investors have any appreciation for the long term effects of high brokerage fees on their portfolios, and fewer still understand that no one, including all of the experts, has any ability to predict market performance in the near term.

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      butcherbakertoiletrymakerBeABigRedOne
      6/08/16 12:09pm

      That’s where a free service like feex comes in handy. I’m an indexer, but not all index funds are created equally. Some have strangely high fees associated with them. So I used feex to help me determine the precise fee ratios between some of the funds I was considering. It also alerts you if your brokerage firm eliminates one of your funds and replaces it with a higher fee fund.

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    kathotdogHamilton Nolan
    6/08/16 11:47am

    And Steve Cohen just tore down a 62 million dollar home in the Hamptons to build something bigger, more to his liking. He may not be in the hedge fund game right now, but he will be back soon.

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      Cam/ronHamilton Nolan
      6/08/16 12:24pm
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        FacebonesHamilton Nolan
        6/08/16 12:19pm

        That 2% is effectively the hedge manager fee. I am happy to hold your money in t bills for you and I'll charge 1%

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          Sid and FinancyHamilton Nolan
          6/08/16 12:18pm

          94% of them expected their hedge funds to return at least 9% profits last year. The actual returns of hedge funds last year: -2%.

          Wow, that other 6% really sucked wind last year!

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            medhat1Hamilton Nolan
            6/09/16 9:38am

            Greed. It the fuel the world runs on.

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              Sean BrodyHamilton Nolan
              6/08/16 11:44am

              I’m staying in index linked funds like you told us to, HamNo

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