"The investment business is a giant scam"

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  • azguy
    Confirmed User
    • Nov 2004
    • 5167
    #1

    "The investment business is a giant scam"

    LOL.

    "The investment business is a giant scam. It deletes billions of dollars every year in transaction costs and fees."

    -- 2004, Harvard Management CEO Jack Meyer (Harvard Univ's in-house investment arm), in an interview to BusinessWeek.

    http://yahoo.businessweek.com/magazi...2/b3914474.htm
    Tags: None
    • I Like Chocolate
      Confirmed User
      • Dec 2004
      • 821
      #2
      It's become one giant sales business.

        Comment

        • JRingo
          Registered User
          • May 2004
          • 22
          #3
          it's been said you'd make more buying Beer with the money you were going to invest and cash in the aluminum than the stock market. it's all a big circle. money has to be made and spent for the economy to keep going.
          Just another Horse shit Blog - let's trade links

            Comment

            • woj
              <&(©¿©)&>
              • Jul 2002
              • 47880
              #4
              You've taken that quote slightly out of contest... I think he meant mutual funds are a scam?
              Custom Software Development, email: woj#at#wojfun#.#com to discuss details or skype: wojl2000 or gchat: wojfun or telegram: wojl2000
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                • azguy
                  Confirmed User
                  • Nov 2004
                  • 5167
                  #5
                  Originally posted by woj
                  You've taken that quote slightly out of contest... I think he meant mutual funds are a scam?
                  LOL. I guess he meant "money managers" of all kinds and even brokerage firms.

                    Comment

                    • EscortBiz
                      Fuck Checks, CASH only!
                      • May 2002
                      • 19422
                      #6
                      i said it once and ill say it again

                      invest in your own stuff like that if it flops at least its all your fault

                      investing in some other stuff you have zero control over you will 99% lose your money, if you feel you are going to be the lucky 1% go play lotto

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                        • strats
                          Too lazy to set a custom title
                          • Feb 2004
                          • 1805
                          #7
                          Originally posted by woj
                          You've taken that quote slightly out of contest... I think he meant mutual funds are a scam?

                          Hey dumbass retard, do you happen to mean 'context'?

                            Comment

                            • Pornwolf
                              Drunk and Unruly
                              • Jan 2002
                              • 22712
                              #8
                              Originally posted by EscortBiz
                              i said it once and ill say it again

                              invest in your own stuff like that if it flops at least its all your fault

                              investing in some other stuff you have zero control over you will 99% lose your money, if you feel you are going to be the lucky 1% go play lotto
                              Hmm... what's the Powerball jackpot this week? I feel lucky.
                              I've trusted my sites to them for over a decade...

                              Webair, bitches.

                                Comment

                                • ronbotx
                                  Registered User
                                  • Jan 2002
                                  • 1634
                                  #9
                                  Originally posted by azguy
                                  LOL.

                                  "The investment business is a giant scam. It deletes billions of dollars every year in transaction costs and fees."

                                  -- 2004, Harvard Management CEO Jack Meyer (Harvard Univ's in-house investment arm), in an interview to BusinessWeek.

                                  http://yahoo.businessweek.com/magazi...2/b3914474.htm
                                  Kind of like the Penis Pill and the Dating Sites that many here promote eh?

                                    Comment

                                    • aaron
                                      Confirmed User
                                      • Mar 2003
                                      • 4452
                                      #10
                                      Originally posted by EscortBiz
                                      i said it once and ill say it again

                                      invest in your own stuff like that if it flops at least its all your fault

                                      investing in some other stuff you have zero control over you will 99% lose your money, if you feel you are going to be the lucky 1% go play lotto


                                      stocks are for average people. if you want to be rich you have to be above average.

                                        Comment

                                        • aaron
                                          Confirmed User
                                          • Mar 2003
                                          • 4452
                                          #11
                                          Q: You've had a great run over the past decade, earning a 15.9% annual return. But recently you've been warning Harvard that you don't expect the good times to persist. Why not?



                                          15.9% returns? sounds fucking horrible.

                                          there is other stuff out there!!!

                                            Comment

                                            • woj
                                              <&(©¿©)&>
                                              • Jul 2002
                                              • 47880
                                              #12
                                              Originally posted by strats
                                              Hey dumbass retard, do you happen to mean 'context'?
                                              Custom Software Development, email: woj#at#wojfun#.#com to discuss details or skype: wojl2000 or gchat: wojfun or telegram: wojl2000
                                              Affiliate program tools: Hosted Galleries Manager Banner Manager Video Manager
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                                                • emthree
                                                  Dialer Kingpin
                                                  • Jun 2003
                                                  • 10816
                                                  #13
                                                  scam is too much of a harsh word

                                                  • Sell Patches & Pills •

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                                                    • Biggy2
                                                      Confirmed User
                                                      • Feb 2002
                                                      • 1821
                                                      #14
                                                      He said scam with regards to the fees and transaction costs of outside managers.

                                                      Managers will trade your money all day long - they collect commissions in a variety of different ways. First there is direct, then they receive payment for order flow by dealers. He's right, there are so many uninformed traders out there. The comissions dilute your overall return, and therefore with them included they dont outperform, with them excluded they do, but uninformed traders don't realize the true extent of the management fees and commissions.

                                                        Comment

                                                        • pornguy
                                                          Too lazy to set a custom title
                                                          • Mar 2003
                                                          • 62910
                                                          #15
                                                          Use one of the online places like scott trade, and do your own research.
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