Comic of the Day
"Financial Planning"
Comments
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My account rep, at Fidelity constantly want's be to sell some of my bank stock (1/3 of the portfolio) and spread that money out into other investments.And them I point out that over pretty much any time period that you choose, my returns are beating the S&P by a tidy margin. So she changes the topic.She's useful for letting me know about new Fido products, and on those rare occasions when I need account type help, but not so much so for investment advice.BTW, before I switched over to systems, I managed a $100,000,000 PER DAY, money market trading operation and I held a Series 7 license. So I know what I'm doing in the investment field.
Q user since February, 1990. DOS Version 4
Now running Quicken Windows Subscription, Business & Personal
Retired "Certified Information Systems Auditor" & Bank Audit VP0 -
What always gets me about "TV Financial Planners" is that people somehow believe that the advice given to millions of people is "right for them".Signature:
This is my website: http://www.quicknperlwiz.com/0 -
Chris_QPW said:What always gets me about "TV Financial Planners" is that people somehow believe that the advice given to millions of people is "right for them".
Well, it's "right" for Dave Ramsey who lives in a VERY large mansion in one of the suburbs of my city. Don't see many of his clients living there.
Q user since February, 1990. DOS Version 4
Now running Quicken Windows Subscription, Business & Personal
Retired "Certified Information Systems Auditor" & Bank Audit VP0 -
The purpose of diversification is not to beat the S&P. It's to reduce risk.Wells Fargo is a criminal company and if they ever get properly punished and their stock drops to nothing, you'll wish you had listened to Miss Fido.
Quicken user since version 2 for DOS, now using QWin Premier (US) on Win10 Pro.
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Yeah, it reminds me of the way to get rich in fixing up houses, convince people that you know what you are doing, and sell them your "method". Even better get yourself on TV. Susan Orman seems to be doing quite well with that method.Signature:
This is my website: http://www.quicknperlwiz.com/0 -
Besides my WF stock, I own 13 WELL DIVERSIFIED Fido mutual funds in that same account.When the fake account scandal broke, WF stock dropped to the $8 range. It's currently at $33.62 and those miscreant individuals have all been fired. It's INDIVIDUALS who are criminal ... not the company.
Q user since February, 1990. DOS Version 4
Now running Quicken Windows Subscription, Business & Personal
Retired "Certified Information Systems Auditor" & Bank Audit VP0 -
Contrast with PG&E. The company itself is a convicted felon, yet none of its staff went to jail.
Quicken user since version 2 for DOS, now using QWin Premier (US) on Win10 Pro.
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I don't believe that the WF executives were jailed either ... but they each experienced HUGE "clawbacks" of prior salary and bonuses. Such as the ENTIRE bonus for several years and a chunk of salary.
Q user since February, 1990. DOS Version 4
Now running Quicken Windows Subscription, Business & Personal
Retired "Certified Information Systems Auditor" & Bank Audit VP0 -
from the Boglehead forum - and Vanguard cult followers -
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