My broker finally comes clean (humor)

derryb · February 7, 2016 7:27AM

“We don’t really manage your money. What we do is encourage you to buy some stuff and then sit on it so we can charge you a fee.

When prices decline, because we don’t really pay attention to the markets, we have to send out an excuse letter to keep you from transferring your money to another advisor who actually pays attention to what is going on.

Even though we knew stocks were overvalued, and such overvaluation leads to corrective cycles in the market, we really didn’t think about selling stocks to reduce the risk of loss. We are too busy trying to get other people to invest money with us. The more the better.

We hope you understand, but our revenue line is more important than yours. Oh, and please deposit more money in your account because dollar cost averaging works better for us than you.”

From "Now Is the Time to Worry"

jmski52 · February 7, 2016 8:53AM

+1

PerryHall · February 7, 2016 9:03AM

It would be funnier if it weren't so true.

BBN · February 7, 2016 9:58AM

asheland · February 8, 2016 4:45AM

derryb · February 12, 2016 3:10AM

johnny9434 · February 12, 2016 5:23AM

flush and down the tubes it goes.

ricko · February 15, 2016 2:06AM

This may seem funny...but in essence, too often true. Cheers, RickO

My broker finally comes clean (humor)

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