Just think about it. They make money when you trade (you pay them commissions). Everytime you trade, the broker makes money whether you do or not. the way to make money in stocks is to buy and hold. do you honestly think there are many brokers out there with that philosophy?

i am sure there are honest brokers out there. and i am sure there are very rich brokers out there. But i seriously doubt if there are plenty of honest rich brokers out there.

__________________
Jennifer
90 350sdl

I have to agree. 9 out of the 10 past stocks I have bought I was told *not* to buy by my "broker" friend. Out of those 10, the 1 he told me to buy made 7% in a 3 month period. (not bad). 1 of the 9 he told me not to buy lost 10% in a 2 month period. The other 8 (of which he told me not to buy (and to stay far away from) have all made 10%+ in the past 3 months.

I think I should have married Jen Tay. She's preaching to the choir when she talks about Vanguard, Index Funds, and ultra low expense ratios.

Minimizing investing expenses is critical to growth in investment portfolios.

__________________
Paul S.

2001 E430, Bourdeaux Red, Oyster interior.
79,200 miles.

1973 280SE 4.5, 170,000 miles. 568 Signal Red, Black MB Tex. "The Red Baron".

you never proposed!

__________________
Jennifer
90 350sdl

Peter Lynch once said that for every five stocks you buy, on the average two will go up, two will go down, and one will stay about the same.

I try to buy shares of companies whose management impresses me a lot, who show steady gains over time, and whose managers own a lot of the company's shares. I usually don't consider selling unless one or more of those things change.

The value of my house has gone up and down (mostly up, though) over the years. I didn't rush to sell it as soon as I saw the housing market getting a little soft. I look at my other investments about the same way.

__________________
" We have nothing to fear but the main stream media itself . . . ."- Adapted from Franklin D Roosevelt for the 21st century

OBK #55

1998 Lincoln Continental - Sold
Max 1984 300TD 285,000 miles - Sold
The Dee8gonator 1987 560SEC 196,000 miles - Sold
Orgasmatron - 2006 CLS500 90,000 miles
2002 C320 Wagon 122,000 miles
2016 AMG GTS 12,000 miles

Frankly, Paul, I'm impressed as hell when I find a woman who shows any interest in finacial matters. If they're interested AND knowledgeable, I'm doubly impressed. If they're interested AND knowledgeable, AND they love cars, I'm damn-near in love!

__________________
" We have nothing to fear but the main stream media itself . . . ."- Adapted from Franklin D Roosevelt for the 21st century

OBK #55

1998 Lincoln Continental - Sold
Max 1984 300TD 285,000 miles - Sold
The Dee8gonator 1987 560SEC 196,000 miles - Sold
Orgasmatron - 2006 CLS500 90,000 miles
2002 C320 Wagon 122,000 miles
2016 AMG GTS 12,000 miles

Tell me about it. They are either too conservative and don't understand how to make money with their money (or willing to learn actively). Or waste the little that they have on Coach handbags.

Not easy!

now that's a blanket statement! what people do is what people do. life's too short to worry about it. at least for me.

__________________
Jennifer
90 350sdl

That could be said about ANY profession. But that's beside the point. And, Jen, the value of YOUR stock is going up with every post . I, too, like the way you think and express yourself. However I'm married and we couldn't ever agree on who should manage the money anyway.

How has the discussion shifted from Financial Advisers to Stockbrokers? There is a difference between the two. (Buying and selling on a continual basis and trying to time the market are not for the faint-of-heart and not a good idea in most cases.) A Financial Planner/Adviser takes the whole picture into consideration and generally handles life insurance, disability insurance, long-term care (insurance is probably a whole other discussion) and more often than not, deals with mutual funds and allocation recommendations in addition to planning for distribution strategies.
So, finally, after much ballyhoo, we come to the realization that we all agree (for the most part). I am a strong buy-and-hold advocate, I love the index funds and allocation funds and tax-efficiency should be a huge point of reference for anyone's investment strategy. Where I take exception is when people make broad statements implying that no one needs a financial adviser or that they are better off DIY their finances. Are all advisers honest? No. And I believe I mentioned the 50% rule in an earlier post. But they have resources and training that the rest of us do not and finding an honest, competent planner is a wise move for the majority of people. A study in 2004 revealed that from 1985-2004 the S & P 500 index enjoyed a 13.20% annual rate of return while individual investors as a whole saw a 3.70% rate of return over that same period. Sounds like someone needs help. Maybe those of us who have had a real-life experience (and who have remained silent) with a financial adviser could post their views. Please, no baseless "statistics" or unfounded "theories". Just first-hand knowledge, experiences and opinions. That would be an interesting read.

__________________
1983 M-B 240D-Gone too.
1976 M-B 300D-Departed.

"Good" is the worst enemy of "Great".

Nobody said I was worried about it.

The smart ones buy knock-off Coach and Gucci bags (or fancy whips, high heels and leather bustiers) and invest the rest. Then they LOOK good AND have money.

__________________
" We have nothing to fear but the main stream media itself . . . ."- Adapted from Franklin D Roosevelt for the 21st century

OBK #55

1998 Lincoln Continental - Sold
Max 1984 300TD 285,000 miles - Sold
The Dee8gonator 1987 560SEC 196,000 miles - Sold
Orgasmatron - 2006 CLS500 90,000 miles
2002 C320 Wagon 122,000 miles
2016 AMG GTS 12,000 miles

I think you hit a sore spot, Gotta. Jen Tay must have a weakness for Coach products. Well, I'm sure SHE can afford them. After all SHE drives a Mercedes!

__________________
" We have nothing to fear but the main stream media itself . . . ."- Adapted from Franklin D Roosevelt for the 21st century

OBK #55

1998 Lincoln Continental - Sold
Max 1984 300TD 285,000 miles - Sold
The Dee8gonator 1987 560SEC 196,000 miles - Sold
Orgasmatron - 2006 CLS500 90,000 miles
2002 C320 Wagon 122,000 miles
2016 AMG GTS 12,000 miles

Hehe. I know. That's why I went with the one-liner as a follow up. Figured I couldn't win with this one. It may be a blanket statement, but I have yet to find one that isn't woven from that fabric -- and I've shopped for more than my share of blankets.

The first one I married couldn't manage a nickel... but we won't go there.

i'm partial to the fake kate spades and coach. you got me. what can i say?

i get them from a fake bag vendor in georgetown (in DC).

__________________
Jennifer
90 350sdl

The Mistress prefers shopping at Wu Hu's Chinese-American imports on Canal St. in New York. She's a verrry discerning knock-off shopper. You two would probably get along well.

__________________
" We have nothing to fear but the main stream media itself . . . ."- Adapted from Franklin D Roosevelt for the 21st century

OBK #55

1998 Lincoln Continental - Sold
Max 1984 300TD 285,000 miles - Sold
The Dee8gonator 1987 560SEC 196,000 miles - Sold
Orgasmatron - 2006 CLS500 90,000 miles
2002 C320 Wagon 122,000 miles
2016 AMG GTS 12,000 miles