That's about what I'm thinking, yes. A financial advisor tries to fit the client's unique needs. Because of this I think they might often do well to focus on good asset allocation rather than trading. The money manager or trader will try to make profits but just as much I think to control their risk and avoid damaging their track record, something the financial advisor will probably be looking at closely before suggesting the fund or program to their clients. If the managers are also trading their own money they'll be more sensitive to black swan type, low-frequency risk (like the risks inherent in options selling). Brokers in the strict sense are a different story because they usually don't rely on a track record and can always hope to drum up more business. Most mutual fund managers (though not all) have track records that over time return to broader index performance, so they might not be worth it a lot of the time (with the notable exception of helping investors gain overseas exposure). That's not the case with commodity trading advisors or hedge funds whose returns may be uncorrelated with stocks and therefore can provide diversification for their clients whether or not they beat the stock market. For example in 2008 CTA's as a class were up on the year. A problem with them is that they might try to get a great ten-year run knowing that one day they'll blow up. If they're not trading their own money they might not care since making millions for a few years is generally enough to spend the rest of your life on a yacht with a pretty wife after the fund implodes... Because people with less than a million dollars generally can't invest in hedge funds, CTA's could be an option -- some good CTA programs require only $10,000 or so, though usually it's closer to $50k. I wish more investors could take advantage of hedge funds and other alternative vehicles, because I think that the wealthy have better access to the best traders. That's a shame because it adds to and accelerates the disparities in wealth, where the rich continue to get richer (though they took a hit generally last year) faster than everyone else. I personally have a very idealistic dream of creating a fund or program where anyone could have a micro account, so that someone in Ghana or Spanish Harlem could invest $12 if they wanted. Right now it's impossible, maybe with the exception of spot forex. Anyway, I digress... thanks for the compliment btw.
Your mother is stupid and what she did at the dinner table with strangers is not something I care about either. If you would like I can talk about my beemer you asshole. And that too was paid for in cash you jagoff. You seem pretty angry about my success you punk mouthed scumbag. If you think you can out toilet mouth me----wrong. I can out anything in your little puny life scumbag. You must have lost a lot trading today moron to be so angry. I am quite happy with my results. Sorry if I brag a little. I do own a little aviation record to go with that airplane if you'd like to check my log book you wimp. But after I show it to you I would publicly spank you for your toilet mouthed comments. How would you like that? Brave little internet punk. Now do you have anything positive to say? If not just shut your yap before I shut it for you. You are not allowed to continue posting about me or Puretick or Profit Navigation. Anyone finding any posts from this clown, simply sign up in the trading room at www.Puretick.com and report him to me. I will immediately respond with a tirade of insults to make this little jealous loser wimper. I guess I would really piss you off if I told you that I just moved into a new house here Saturday---yikes. I will not guys. Maybe next month. This turkey is liable to jump off a bridge. He said no one cares about my airplane yet he gave up his dinner to write about mine----hehe. You are right. No one cares. You do. But you are a no one, haha. you jagoff I don't think a g is in there, but you are the expert so what you say goes. Successfully, Alex L. Wasilewski Co-Founder & Head Trader Trades That Work www.puretick.com 1-877-GOLONG1 ( 1-877-465-6641 ) What is the optional stand for, optional brains?
I'm a Broker and Investment Advisor. Yes, most are scum in 2009. Wish it wasn't this way... Pm me. I have at least three chapters of your book "filled."
I think anyone who gets done over by a broker fully and totally deserves it!! Since why the fuk would you ever ever trade through a broker?? Instead of just trading directly through an online platform where you control everything that you do, instead of relying on someone else out there to make your trades for you.
Now the ET sponsor is angry. Next the ET moderator will ban the poster. Moderator, wake up! Ban the poster. Or you will lose your sponsor. About broker being bad, I used Scottrade and didn't know, for a long time, that they routed my orders to THEIR market makers and sold my orders for a fee. I was totally in the dark. From time to time, I found my market orders not being executed for 30 seconds or a minute, I thought it was my computer being slow, I didn't know the broker and its market makers were making money on me. I learned a lot of things the hard way.
We phone orders to get that social relationship that made you leave trading for private security...LOL