RobertJHarsh said:

Sucks the guy killed himself. Better he die that man he was than on the streets homeless with his wife. His wife will likely get some large insurance payout now and she'll be taken care of. You know that BoA sold this guy a bill of goods and stole his money. But nothing will never happen to BoA, because bankers are better Americans than you and I.

Good to hear you have finally come around! Bleeach!
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Zathrus2 said:

I would guess the broker that lost all his money was less than sympathetic. And he probably thought of the banker who convinced him to do this as a friend. It's pretty devestating to be screwed like that by people you thought were friend.s

UNCLE_FUCKER said:

Reading all of this makes me realize how lucky--not smart--I've been to limit my "investing" to whatever I let Fidelity et. al. do with my 401(k)s. I'm a frugal sort like the poor bastard who offed himself, and, like him until he fucked up, I have a pile of cash that earns chicken shit in terms of interest. But it's all still there after three recessions and many, many attempts by bankers and other scum to separate me from it, thank you very much. And it's going to stay that way

We have plans for you, sucka
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Zathrus2 said:

I did the same thing. Even Wall Street Week with Louis Rukheiser was saying everyone had to be in tech stocks.

Of course, now I know they only recommended tech because they wanted to unload their own stocks before the crash.

. said:

Yeppers, I remember it clearly. People dont read about how the Company will make money, what a PE represents...etc All they hear is that Suzanne, at the water cooler, talking about how theglobe.com stock is going to the moon. Hurry and buy.

Peoples greed often over rules ones senses. Are they "truly innocent victims"? I think not, but sheep led to slaughter.

. said:

. said:

That's not "odd" that's a complete breakdown of the synapses.

Once you reach that point you should be treated like a child and have no ability to make any decisions.

sounds like you are there, report to processing.
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. said:

Insurance doesn't pay in cases of suicide.

sandman said:

There will be a lot of money to be made from baby boomer mistakes in the future.

. said:

One of my friends got out of the stock market, and vowed to never invest in stocks ever again.

Interestingly, he's now all in muni bonds, which could be facing its own set of problems..

. said:

Honestly if you started an investment ponzi scheme based on boomer vanity (marketed like how viagara pills are sold) you will be a billionaire, easily.

sandman said:

For those who are wealthy, munis are excellent. In fact, as that 1% get richer and richer, they are likely to buy more munis.

. said:

You would have to selectively buy. Lots of cities and states are about to default.

sandman said:

Whatever business I start would be legal and remain so. No fleecing.

No telling some poor boomer slob that there is not "extra risk" in shifting from CDs to high risk stocks.

. said:

meh, in finance this kind of attitude will wind you up on the wrong side of everything, taking massive losses and losing all your clients.


lets face it, boomers deserve it and they are dumb enough to give their money away and all you have to do is create marketing materials where healthy looking boomers with grey hair are windsurfing or hang gliding.

. said:

meh, in finance this kind of attitude will wind you up on the wrong side of everything, taking massive losses and losing all your clients.


lets face it, boomers deserve it and they are dumb enough to give their money away and all you have to do is create marketing materials where healthy looking boomers with grey hair are windsurfing or hang gliding.

sandman said:

2nd part: marketing materials are often very effective. Plus money managers lie about results because the money managers that do poorly (often through no fault of their own) are fired, which boosts average performance, where those performance numbers then wind up in glossy marketing sheets.

And people fall for this over and over and over and over again.

. said:

In my 1999 case, it wasn't greed.

It was more like "embarrassment-avoidance".

I was sick of everyone calling me an idiot, and watching everyone around me get richer. Year after year, I watched even the secretaries & bartenders make a shitload of money in dotcom stocks. They would buy dotcom stocks where they didn't even know what the company did as a business, and the stocks would go up.

Year after year of this verbal abuse and public humiliation finally broke me, and I grudgingly started investing in tech stocks in late 1999.

Un-fucking-believable.

Wait it will happen again.

Except this time these clowns will be talking about the newest Yukon Gold miner. You will try to hold out, but the gains will be so much and the dollar and inflation so overwhelming you will buy the top again.



Get in now, before the heard. Problem is, you think gold is already a bubble.

Poor, poor clown.

. said:

Wait it will happen again.

Except this time these clowns will be talking about the newest Yukon Gold miner. You will try to hold out, but the gains will be so much and the dollar and inflation so overwhelming you will buy the top again.



Get in now, before the heard. Problem is, you think gold is already a bubble.

Poor, poor clown.

sandman said:

I've told my dad that he should consider an exit strategy. We are due for another downturn.

. said:

yes we are, and maybe for gold too at the moment...

But I think the gold 'bubble' will go much higher before it tops...much higher.

sandman said:

. said:

yes we are, and maybe for gold too at the moment...

But I think the gold 'bubble' will go much higher before it tops...much higher.

Agreed. Getting in gold expecting it to go up $200 an ounce is a reasonable gamble. Expecting it to go to $2500 isn't.

UNCLE_FUCKER said:

Reading all of this makes me realize how lucky--not smart--I've been to limit my "investing" to whatever I let Fidelity et. al. do with my 401(k)s. I'm a frugal sort like the poor bastard who offed himself, and, like him until he fucked up, I have a pile of cash that earns chicken shit in terms of interest. But it's all still there after three recessions and many, many attempts by bankers and other scum to separate me from it, thank you very much. And it's going to stay that way

sandman said:

What I meant was that I wouldn't lie to someone and say that a move from investment A to B doesn't incur extra risk.

If I was to become a money manager, it would be through honesty. No fleecing. No bullshitting. Very literal.

What type of client do I have? What is the time horizon? What is their comfort with risk? How old are they? How have they invested before?

How can I communicate to them that it's not the broker that makes the difference, but the time horizon, the risk, and the ability to stick to the investment plan, and then use ultra self-discipline to rebalance the portfolio to make sure it stays with the original plan?