buy/sell stock sites
Out of context: Reply #19
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Yeah, pay a stock broker. That's a good idea because they're all so intelligent. Hell, look at Sal Governale.
Brokers are fucking chimps. Glorified salesmen in the financial industry. They are the worst people you could possibly let manage your portfolio. Financial advisors are the second worst. Both groups have quotas to fill, and they get commissions for putting their clients into certain securities. They know fuck-all about mathematical finance, they don't know how to truly value securities, and they don't actively manage your portfolio.
Go check out one of the big firm's financial advisory department. I guarantee you would find that most, if not all, of the advisors there have all of their clients invested a group of the same stocks. I know this because I've worked in FA.
If you meet the financial requirements to do so, you should give your money to people and institutions that actually know what they're doing; things like hedge funds, individual portfolio managers in bulge-bracket investment banks, Registered Investment Advisors that have fiduciary responsibilities with their clients. Fiduciary is truly key.
...or you can give it to some southern-boy stock broker who will make as many trades with your money as possible to get the largest commissions.
- ... you sound quite angry about this. i did enjoy your "i know cause i worked in the FA" line.bjladams
- Not angry... just disappointed that so many consumer investors fall victim to this********
- And I did work in FA.... why is that funny?********
- it just makes the rest of your argument sound... silly. my souther FA makes us plenty- and does better than i could on day trading (original post)bjladams
- day trading (original post).
bjladams - I'm not advocating day trading... I'm saying there are better alternatives than brokers & FAs********
- an FA is not a fiduciary... they are not legally obligated to act in your best interest********
- They make money from commissions by which stocks/funds they put you in.********
- Yeah, FAs will make you money when the entire market is on the up swing********