Comment on stock market
Lv_InSaNe_vL@lemmy.world 2 days agoSure, but this is my retirement and long term savings. I’m able to admit my limitations and this is one of them.
I go to a doctor when I’m sick too. I trust professionals.
Understandable, but they also have conflicting interests, which is that THEY want to make money
if you look at the average return rates of managed investing vs unmanaged, you’ll see that you earn more by yourself with pretty much equal risks
I suspect many investment companies have deals or interest in making you invest in specific companies even though they’re not that profitable
THEY want to make money
Yes, but they make money when I make money. I pay like $750 per year to keep my account open, but other than that he only takes a percentage of my monthly gains. The more money he makes me, the more money he gets from me.
And yes of course I could do enough research to match or very them in gains and I could spend enough time watching the markets to make sure I am making sound decisions. Or I could just pay someone a few hundred bucks a month to do it for me. I know what decision I chose.
$750 per year to keep my account open
WHAAAAAAT
The thing is it’s relatively simple in the most part. Just invest in a couple mainstream ETFs and boom, no need to be fancy or taking some time after that
I think you missed three facts that I keep trying to hammer home.
That doesn’t make any sense, they have a shared interest. They make more money when you make more money.
They could also make you invest in their partner companies (or even their own) and have themselves invested prior to that in the same company, then sell later, making them a bigger cut, or similar schemes. What I mean is that it’s not that simple.
overall their work is not that hard and statistically doesn’t pay off, at least in the past years
They’re trying to stay relevant, but ETFs are now the main way of investing and are providing more interest than picking niche fields. They’re doing what they can to stay relevant, but it doesn’t really work
Yeah, I do the ETF thing too.
I get the possibility of some kind of insider trading, but they still have to make good returns or they’re gonna lose the job.
aphonefriend@lemmy.dbzer0.com 2 days ago
The difference in skill level needed between a good doctor and a good money manager is massive. It’s the difference between years of experience and a few you tube videos.
Lv_InSaNe_vL@lemmy.world 2 days ago
Ah yes there is no such thing as experience or knowledge in financials!
I’m in IT and it’s the same way! Throw on an LTT playlist and by the end of the day you’ll be a sys admin!
mrgoosmoos@lemmy.ca 2 days ago
you are severely overestimating the capabilities of what qualifies as a good money manager
Trainguyrom@reddthat.com 2 days ago
I can’t tell if you’re being sarcastic or not but I worked with someone who watched LTT religiously and seemed to get most of his training from LTT. I spent a lot of time figuring out what he did or didn’t do, writing the documentation he didn’t write them fixing what he built incorrectly. LTT tries their best but their background is purely in gaming computers and it really shows, especially with the repeated IT failures that really shouldn’t be happening in an organization of their size