The Ethical Investor:
20 Ways Wall Street is Ripping Off Small Investors:
1. Providing nominal returns, not real returns.
2. Encouraging too much diversification, if that's possible.
3. Hiding fees and expenses.
4. Turning you into a passive investor.
5. Convincing you that money markets are the same as cash.
6. Telling you that bonds are safer than equities.
7. Explaining that in the long run equities outperform bonds.
8. Simply by lying about their products.
9. Convincing you that their bank is a large, stable, safe operation to deal with.
10. Recommending products that have enormous sales commissions attached to them.
11. Cheating you on bid/ask spreads.
12. Selling you what they don't want.
13. Measuring your success in dollars.
14. Lending your securities to others.
15. Ripping your eyes out if you ever try to close your account.
16. Grabbing any slight positive real return for themselves.
17. Sticking toxic waste to small investors.
18. Pretending they can pick stocks.
19. Acting like they are your best friend and they have your best interests at heart.
20. Knowing next to nothing about the value of holding real assets like gold and real estate.
John R. Talbott is a best selling author and financial consultant to families whose books predicted the housing crash and the economic crisis. You can read more about his books, the accuracy of his predictions and his financial consulting activities at www.stopthelying.com
Content concerning financial matters, trading or investments is for informational purposes only and should not be relied upon in making financial, trading or investment decisions.
This is the first in a new series on personal finance entitled The Ethical Investor. Each Friday morning in the Huffington Post...
John R. Talbott: The Ethical Investor: 20 Ways Wall Street Is Ripping You Off
LINK: http://www.huffingtonpost.com/john-r-talbott/wall-street-ripoffs_b_1827302.html
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