Ricard

This Rally May Have Legs - Bespoke

People on Wall Street don't need front-running. They have the capital to move markets - once moved, they then use "technical analysis" to justify further a similar position by the investing public. Same result, minus the illegality. It's predicated on how much people believe in charting.


On Mar 29 03:02 PM EMT reality wrote:

> Your blanket statements of wall street is a bit overstated. To point
> out a few facts about "money managers" 1) your point of front running
> is off base as it is illegal for a licensed rep to "front run". 2)
> I would agree that SOME of the advice from wall street could be self
> serving however if your using a fee only advisor and perhaps independent
> then his income is directly correlated to your growth. why would
> he want to advise anything other then that which is in his clients
> best interest?
> I will grant you that there are issues! This is one of the challenges
> of a capitalistic society. What would really protect one from Ponzi
> schemes?……… I would suggest as investors…… trusted advisors are
> critical to our ability to due diligence in understanding our own
> investing as it relates to life, goals and the markets. Would you
> do your own surgery? I don’t know about you but I would seek out
> a professionals help. You know what they say about a lawyer that
> represents himself as a client! One of the biggest challenges with
> investing is emotions. What do you do to keep them checked at the
> door? If you truly know the facts about investing then you might
> understand the value of advice in efficient markets.

This Rally May Have Legs - Bespoke

Well said...couldn't have stated it better.


On Mar 29 01:24 PM wdhalgren wrote:

> Imagine that, a money manager (Bespoke) who thinks the market is
> going up. To what address should I mail my check?
>
> Seriously, when the American people finally re-learn that advice
> from the investment community is ALWAYS self serving, then we will
> have made progress in returning to a more efficient form of capitalism.
> Namely, one in which people are diligent in deploying their capital,
> instead of blindly "investing" their hard earned savings in trading
> vehicles that they don't understand, under the tutelage of money
> managers whose incentives aren't necessarily aligned with the investor.
>
>
> Wall Street marketing language has been force fed to the public for
> so long that it has become accepted as fact. The true fact at this
> point is that the investment establishment has learned how to leverage
> the savings of average Americans into a payoff system that enriches
> money managers through boom and bust. Even worse, our financial
> system augments these cycles because the upside of leverage pays
> to the financiers and corporate insiders, while the downside accrues
> to bottom rung investors. Meanwhile, they front run their clients
> at every opportunity and generally shear the sheep who floke to them
> in droves.
>
> I am a fiscal conservative, but that doesn't mean I blindly accept
> the system of stock options, bonuses, insider trading that predominate
> the investing landscape. This is not a new realization, as the bubble
> of the late 90's erased any doubts I had about how the game was being
> played. Unfortunately, more government control is not the solution,
> in fact it played a large part in creating the problem. Letting
> investors pay the price for their lack of due diligence is the best
> course, but that seems unlikely until the whole thing is irreparably
> broken.