I've changed my mind. It is all a crock of shit. Nobody knows anything.
This isn't about Jim Cramer, it is about the industry as a whole.
Hey my fund made 10 percent last year. Cool? But the market was up 15 percent as a whole last year. So why should I invest with you again?
Give me your money - and I will double it in ten years. Cool - I think my bank can do the same since fucking inflation will double most people's money over that period of time.
Hey invest in this fund - it has made excellent returns of 10-12% for the past 15 years. Wow? Really? What about the other 200 funds that didn't that you have closed down over the years - thus giving the illusion you only ever had one fund which is the one which 'never fails'.
Hey? Give me a bunch of money. We will give you back a 10% return for each year that your money is tied up with us. Oh really? Cool. Wanna' put that in a legal contract - so that I can sue you if you don't meet those figures? Thought not - you are full of shit.
Hey? Give us your money - and we will make more money from it Sounds great. But if you have such a surefire thing - why are you wasting your time with me? Why don't you just go become rich on your own? Why do you need help from me?
Hey? Warren Buffett is a genius. Well two things - he probably is and you certainly are not. But secondly - even Warren Buffett admits that most of his money came through the magic of compound interest over a 65 year investing career. To quote a recent article:
The FTSE 100 has risen 300 percent over the past 20 years. Wow - really? And what about all the companies that dropped out the FTSE 100 over the past 20 years or went bust? The FTSE 100 is a collection of companies. And if you look at the FTSE 100 for ten or twenty years ago - you will see that most of those companies have done shit (with a couple of exceptions). It is like 'investing' in the pop bands who were in the Top Ten 20 years ago. Sure one or two of them are still doing well - but the rest of them have hit the wall.
Yet the Top Ten is selling more records than ever? Indeed. The 'Top Ten' and the people who make up the 'Top Ten' are two separate things often confused by the gullible.
And as for all the fees that the money men charge? I will leave it to Fred Schwed Jr. who wrote the observed the following 60 years ago:
For those of you who hate the Banksters and the way they fucked over the world in the last financial crisis (and expect another one in the next decade since they come round like clockwork every 15 years) - you have to ask yourself why you are still trusting them with your money?
I have being feeling this way for awhile. But I wanted to put together this post after reading the following book which clearly sets out the statistics showing that for most people they will actually get a better return on their money by sticking it in a bank - versus handing it over to an investment guru (ie a recent university graduate in a badly fitted suit) to invest in the stock market:
http://monkeywithapin.com/
This isn't about Jim Cramer, it is about the industry as a whole.
Hey my fund made 10 percent last year. Cool? But the market was up 15 percent as a whole last year. So why should I invest with you again?
Give me your money - and I will double it in ten years. Cool - I think my bank can do the same since fucking inflation will double most people's money over that period of time.
Hey invest in this fund - it has made excellent returns of 10-12% for the past 15 years. Wow? Really? What about the other 200 funds that didn't that you have closed down over the years - thus giving the illusion you only ever had one fund which is the one which 'never fails'.
Hey? Give me a bunch of money. We will give you back a 10% return for each year that your money is tied up with us. Oh really? Cool. Wanna' put that in a legal contract - so that I can sue you if you don't meet those figures? Thought not - you are full of shit.
Hey? Give us your money - and we will make more money from it Sounds great. But if you have such a surefire thing - why are you wasting your time with me? Why don't you just go become rich on your own? Why do you need help from me?
Hey? Warren Buffett is a genius. Well two things - he probably is and you certainly are not. But secondly - even Warren Buffett admits that most of his money came through the magic of compound interest over a 65 year investing career. To quote a recent article:
Quote:Quote:
Of Warren Buffett’s current $60 billion net worth, $59.3 billion came after his 50th birthday, and $57 billion came after his 60th. Compound interest works its wonders only in very long periods of time.
The FTSE 100 has risen 300 percent over the past 20 years. Wow - really? And what about all the companies that dropped out the FTSE 100 over the past 20 years or went bust? The FTSE 100 is a collection of companies. And if you look at the FTSE 100 for ten or twenty years ago - you will see that most of those companies have done shit (with a couple of exceptions). It is like 'investing' in the pop bands who were in the Top Ten 20 years ago. Sure one or two of them are still doing well - but the rest of them have hit the wall.
Yet the Top Ten is selling more records than ever? Indeed. The 'Top Ten' and the people who make up the 'Top Ten' are two separate things often confused by the gullible.
And as for all the fees that the money men charge? I will leave it to Fred Schwed Jr. who wrote the observed the following 60 years ago:
Quote:Quote:
Long long ago, an out-of-town visitor to New York was admiring the elegant vessels harboured off the Financial District;
"Those are the bankers' and brokers' yachts!" exclaimed the guide.
"But where are the customers' yachts?" questioned the naïve visitor in response...
For those of you who hate the Banksters and the way they fucked over the world in the last financial crisis (and expect another one in the next decade since they come round like clockwork every 15 years) - you have to ask yourself why you are still trusting them with your money?
I have being feeling this way for awhile. But I wanted to put together this post after reading the following book which clearly sets out the statistics showing that for most people they will actually get a better return on their money by sticking it in a bank - versus handing it over to an investment guru (ie a recent university graduate in a badly fitted suit) to invest in the stock market:
http://monkeywithapin.com/