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January 16th, 2010 6:12 pm
I don’t know how people can work for nothing. So, obviously I am not understanding what Blodget is talking about.
But, he did say in his new book that if there are any charges at all, over time the yield will be about 20% of what it would have otherwise been.
Again, I am not sure what he is saying other than the people in the middle are getting very rich investing other people’s money.
I understand that the average sales person on Wall Street is getting a $200,000 bonus this year for just investing TARP money. Of course, if they had lost the TARP money it would have been an “oh well.”
Must be really nice to be in a position to invest other people’s money and get paid bonuses if you are just following the information in the sales pool.
A poor fellow in Cleveland doing plumbing probably knows ten times as much about life and making a real living as these first year sales people our of Harvard business, and yet, just because they can land those positions usually based on what their last names are, they end up at the age of 28 worth three to four million dollars, and can hold their nose up for the rest of their life without having to do a darn thing of worth for the society.
Just doesn’t seem even moral.
Warren Buffet says that it makes no sense at all to give one’s money to someone else so they can take huge risks with it and make great money if their research departments are correct, and suffer few if any consequences if the research departments are wrong.
So, I’m listening to all of this and am just confused.
January 17th, 2010 1:32 am
January 17th, 2010 7:52 am
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January 21st, 2010 9:34 am
Presently I am making my trades through Finexo, an online Forex broker and until now I hadn’t undergone through any issue in their service.
January 26th, 2010 10:33 am
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February 7th, 2010 11:47 pm
Matt
February 20th, 2010 1:47 pm