Investing Discipline

[Mark K]

AI: "Most CFPs and financial advisors use a tiered percentage model, with the annual fee decreasing as assets increase, but 1% is very standard for a $1,000,000 portfolioT

The Vanguard S&P 500 ETF (VOO) is consistently ranked among the lowest-cost S&P 500 index funds, with a current expense ratio of 0.03%"

I get a kick out of Fisher commercials that say....."If you don't make money, we don't make money." They charge 1 to 1.5%.

1% a year for investing 30-years is 30% of 'your wealth' compounded! The really rich buy a bunch of the S&P 500 stocks that mimic the S&P 500 and avoid the capital gains distribution that tends to happen with ETFs. I have a close friend who had a retirement account from a large law firm and the long returns are dismal. I'd almost call it criminal.

I feel sorry for anyone that is so financially illiterate that they think that paying someone 1-1.5% of their assets every year is a good idea. A lot of these people can quote you stats on all of their favorite sports teams that they've followed for most of their lives but have no understanding of the financial markets. If you mention ETF, they look at you like a deer in the headlights. They've 'studied' what they think is important and are willing to blindly hand over their money every year to someone who, in most cases, doesn't beat the S&P Index.

BTW, the only company worse than Fisher is Edward Jones. They love nothing more than to call you into their office every year and convince you to 'rebalance' (churn) your portfolio...for the sole intention of running up more commissions in their high-fee mutual funds. No better than snake oil salesmen...or AMCs. You could open a Schwab account, put 50% into an S&P index ETF, 25% into an international etf, and 25% into a high-yield preferred stock fund and do as well as Ed Jones, for virtually no cost.

 

[Charles West]

I should have got in yesterday, but it doesn't matter, I'm going to do it anyway.

 

[Bobby Bucks]

BTW, the only company worse than Fisher is Edward Jones. They love nothing more than to call you into their office every year and convince you to 'rebalance' (churn) your portfolio...for the sole intention of running up more commissions in their high-fee mutual funds. No better than snake oil salesmen...or AMCs. You could open a Schwab account, put 50% into an S&P index ETF, 25% into an international etf, and 25% into a high-yield preferred stock fund and do as well as Ed Jones, for virtually no cost.

Some of the financial guys I know are okay, but most of them are pompous and completely full of $h!t. There are 2 things you can say that will make their heads explode...... Bitcoin and self-directed real estate IRA. They hate IRA companies like Equity Trust that have low fee self-directed options. If you bring up both in the same sentence you may have to call 911 for them.

 

[Bobby Bucks]

Michael Burry is on a tear about “suspicious revenue recognition” among the AI firms. He was right about credit default swaps with subprime mortgages.

 

[Charles West]

What say the forum's bitcoin experts about today's activity? What are the underlying fundamentals causing this volatility?

 

[Bobby Bucks]

What say the forum's bitcoin experts about today's activity? What are the underlying fundamentals causing this volatility?

I’m far from an expert, but here is my take. Speculative risk assets and tech stocks have also been down since Bitcoin is a “risk on” asset. There is uncertainty about the fed and if there will be a rate cut,I think December 10th is the next meeting. There was a lot of profit taking and there have been outflows from the Bitcoin ETFs. The drop below 100,000 and now below 90,000 were both psychological barriers, but then I again I was celebrating when it went above 80,000 last year.

FWIW I have not sold any of my “hard” bitcoin which is what’s in my hard wallets, but I began selling a lot of my Bitcoin ETFs and Bitcoin mining stock which is in my IRA. I sold about half of it, wish I had sold all of it, even so I’m up. I’m in it for the long game, Bitcoin is for my offspring. If it drops to mid 70s I will jump back in. It's interesting because the certified gurus who are on X and YouTube have opinions and predictions all over the place.

 

[Fernando]

I feel sorry for anyone that is so financially illiterate that they think that paying someone 1-1.5% of their assets every year is a good idea. A lot of these people can quote you stats on all of their favorite sports teams that they've followed for most of their lives but have no understanding of the financial markets. If you mention ETF, they look at you like a deer in the headlights. They've 'studied' what they think is important and are willing to blindly hand over their money every year to someone who, in most cases, doesn't beat the S&P Index.

BTW, the only company worse than Fisher is Edward Jones. They love nothing more than to call you into their office every year and convince you to 'rebalance' (churn) your portfolio...for the sole intention of running up more commissions in their high-fee mutual funds. No better than snake oil salesmen...or AMCs. You could open a Schwab account, put 50% into an S&P index ETF, 25% into an international etf, and 25% into a high-yield preferred stock fund and do as well as Ed Jones, for virtually no cost.

I'm surprise Fisher has survived after the scandal years back.
Having taking many college finance classes, I still remember that even if throwing darts in picking stocks, as long as it's a diversified group of stocks which follows the market, you should do fine like buying ETFs.
So called experts can't really outearn the stock market in long run especially not paying those management fees.

 

[alebrewer]

I'm holding out till Bitcoin gets back down to $11. Then I'm all in.

 

[Fernando]

I'm holding out till Bitcoin gets back down to $11. Then I'm all in.

Trump's bitcoin company has lost all gains this year ($5 billion loss) to near low level at $10/share.

 

[Bobby Bucks]

I'm holding out till Bitcoin gets back down to $11. Then I'm all in.

You will probably need Marty McFly's machine to do that.