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Very Hot Topic (More than 25 Replies) Individual investment Primer (Read 422 times)
kaz
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Re: Individual investment Primer
Reply #20 - Jan 13th, 2020 at 4:54pm
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Jeff wrote on Jan 13th, 2020 at 10:32am:
I consider that the money I spend to have my IRA professionally managed is well worth it. Smiley


Your IRA is not professionally managed.  It's managed by a trained monkey.  A salesman.  I know you don't grasp that, you never do.

My portfolio is managed by a professional.  Me.  I'm an expert in capital markets.  I wouldn't let your trained money touch my portfolio with a ten foot pole

Jeff wrote on Jan 13th, 2020 at 10:32am:
You might be paying lower fees (or you might not), but there is a cost to you in time spent to manage your own portfolio


True, but most of the time I spent I was getting paid for since it was my job.  The rest was when I got my MBA.  My time to manage several portfolios is an hour here and there to check up on things and a Saturday a year to re-balance.  Almost always, re-balance just means for new money coming in.  I have spreadsheets already set up that tell me the allocations.  So I just need to update the prices and review my charts.

Jeff wrote on Jan 13th, 2020 at 10:32am:
Since I already have plenty of money, and I'm old, my time is more valuable to me than the management fees I pay. Besides, experience has shown that I'm only average at choosing investments.




If you actually do have any money at all, you should totally let your trained monkey do it.  You're a complete moron.  The monkey is a lot smarter than you are.  A box of crayons is smarter than you.  My recommendation was for the Chief who is not an idiot like you are.

Seriously Jeff.  You're stupid.  S-T-U-P-I-D.  I'm not kidding.   Don't make any decisions.  Ask anyone you know to make them for you.  Worst case is they make the decision you would.  You have nothing to lose.  You're a complete and utter imbecile
  

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kaz
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Re: Individual investment Primer
Reply #21 - Jan 13th, 2020 at 4:58pm
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SkyChief wrote on Jan 13th, 2020 at 11:59am:
I haven't.

What I don't know won't hurt me.

I really suck at trading.   You're offering excellent advice, I'm sure.  I'm a lazy old coot who likes to bury gold in the ground.


Fair enough.  I do everything I can to hurt the retail financial salesmen that I can.   Again, it's a complete sleaze industry.  I've gone through the recommendations so many people got from financial salesmen and they are so bad.  They don't know what they are doing.  I could tell you stories, but I went on about this enough.

That's why I try to give a recommendation.  Hire a fee only planner, meet with them once a year.  Be sure you only leave with a plan which YOU implement mostly with Vanguard.  Write them a check and they are out.  As I pointed out you could save thousands of dollars a year doing that if you have any money at all.

But if you don't want to, you don't want to.   You're normal, BTW.  Most people don't.  Money scares them and while their trained monkey may not actually know what they are doing, they take that burden off you.  And you are paying them very, very well to do that
  

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Jeff
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Re: Individual investment Primer
Reply #22 - Jan 13th, 2020 at 5:55pm
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kaz wrote on Jan 13th, 2020 at 4:58pm:
Fair enough.  I do everything I can to hurt the retail financial salesmen that I can.
I'm not sure what you mean by "retail financial salesman". That describes stock brokers, doesn't it? Anybody else?
  

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Jeff
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Re: Individual investment Primer
Reply #23 - Jan 13th, 2020 at 6:01pm
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kaz wrote on Jan 13th, 2020 at 4:58pm:
That's why I try to give a recommendation.  Hire a fee only planner, meet with them once a year.
Cool! That's exactly what I did!

It's nothing to do with Vanguard (are you a retail salesman for Vanguard?), but he's good. Every once in a while he contacts me with recommendations for changes in my portfolio, and I go in and meet him and talk about it. Smiley
  

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kaz
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Re: Individual investment Primer
Reply #24 - Jan 13th, 2020 at 6:05pm
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Jeff wrote on Jan 13th, 2020 at 6:01pm:
Cool! That's exactly what I did!

It's nothing to do with Vanguard (are you a retail salesman for Vanguard?), but he's good. Every once in a while he contacts me with recommendations for changes in my portfolio, and I go in and meet him and talk about it. Smiley


That isn't what you did.  You don't write him a check, he just takes a big chunk of your earnings.  And he calls you in when he finds out one of his kids needs braces
  

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kaz
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Re: Individual investment Primer
Reply #25 - Jan 13th, 2020 at 6:06pm
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Jeff wrote on Jan 13th, 2020 at 5:55pm:
I'm not sure what you mean by "retail financial salesman". That describes stock brokers, doesn't it? Anybody else?


No, financial salesmen are salesmen who sell you financial products. Just like a used car salesman sells used cars.  Only you pay your used car dealer less.  He's the guy you meet with once a year.  More often when he needs a new car
  

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Jeff
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Re: Individual investment Primer
Reply #26 - Jan 13th, 2020 at 6:16pm
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kaz wrote on Jan 13th, 2020 at 6:06pm:
No, financial salesmen are salesmen who sell you financial products. Just like a used car salesman sells used cars.
And just like realtors sell real estate?

So, if I want to buy some corporate bonds, I call a financial salesman, right?
  

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yamcha
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Re: Individual investment Primer
Reply #27 - Jan 13th, 2020 at 8:45pm
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Jeff wrote on Jan 13th, 2020 at 6:16pm:
And just like realtors sell real estate?

So, if I want to buy some corporate bonds, I call a financial salesman, right?

Why listen to the idiot.  He is just an employee who wants to sound like a financial bigshot.  The next thing he will tell you is that he is just working for a company so he can get insurance.

Technical Analysis is a commission scam.
  
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kaz
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Re: Individual investment Primer
Reply #28 - Jan 14th, 2020 at 8:05am
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Jeff wrote on Jan 13th, 2020 at 6:16pm:
And just like realtors sell real estate?

So, if I want to buy some corporate bonds, I call a financial salesman, right?


It depends how you buy them.

But since you said "I," meaning you, yes, that is how you buy them.  You call your trained monkey who takes a big chunk of the earnings
  

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Jeff
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Re: Individual investment Primer
Reply #29 - Jan 14th, 2020 at 9:34am
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kaz wrote on Jan 14th, 2020 at 8:05am:
It depends how you buy them.

But since you said "I," meaning you, yes, that is how you buy them.
How do you buy corporate bonds, supposing that you want to?
  

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