Brokers are scum.

Discussion in 'Chit Chat' started by Optional, May 18, 2009.

  1. From a practical standpoint, this bothers me greatly.

    I have yet to sit down with a 'financial advisor' who can have an intelligent discussion about an option with 24 hours until expiration. What's my delta? Gamma? Theta? What can I do if I am long the option? Perhaps a set of unfair questions, but shouldn't an advisor be able to advise you? Shows them up for being the salesmen that they are. For 3% a year I expect something better than telling me to dollar cost average into their 'proprietary' (read: curve-fitted) MPT allocation mix and 'stay the course'.

    And there's the problem - if something happens to me, who will advise my family financially? Perhaps better to just put the nut into a mixture of different maturity Treasuries and TIPS with a moderate exposure to SPY and VGTSX and hope for the best. I have no confidence that some of these folks wouldn't allocate my portfolio into Class A 5% load funds and change them annually for fresh commission.

    What I would pay 1% of assets p.a. for is free execution (like UBS did) and someone I could call up on the phone and have the following conversation with:

    "Hey there. Pull up my portfolio. I just put on size in GC strads in June and am a little concerned."

    "Well, let me run this through my supercomputer. Ok. Model predicts likely rise in volatility in GC so suggest we delta hedge aggressively - here are my suggested pivots: ....... Now, by the way, I note that you have a profitable position in palladium that isn't going anywhere right now - in a sideways channel. However, model shows if your GC position profits, correlation coefficient to your overall portfolio doubles to 1.2 and you may give back some of those gains. Want to take some profits and scale back the position to reduce the net effect on your portfolio? My buddy over at goldy told me he had closed out that trade recently. Negligible effects on the rest of the portfolio, by the way."

    "OK. Sounds like a good idea. Where is it? Sell half."

    That's what I want in a financial advisor - advice, and someone who has access to tools, computing power, and breadth of market information THAT I DON'T HAVE. If you can't give me value added, then the only added value is to YOU!

    Of course, the reality is that such an individual probably can't be found in the under $100 mio USD range, and I freely admit I don't qualify, so what I want and what I get are two different things. That's why I rely upon myself.
     
    #51     Jun 2, 2009
  2. #52     Jun 2, 2009
  3. You'd have the same luck trying to get a car salesman to explain in detail how an engine works. Advisors are salespeople, they don't actually manage the funds. They are just a middle man who charge a fee to direct your money to a mutual fund manager who also charges a fee. Quite redundant, IMO.

     
    #53     Jun 2, 2009
  4. Every loser hates a winner.

    And you obviously are a loser.

    That is OK. At least you are letting others know.

    That is the first step to a cure.

    Successfully,

    Alex L. Wasilewski
    Co-Founder & Head Trader
    Trades That Work
    www.puretick.com
    1-877-GOLONG1 ( 1-877-465-6641 )
     
    #54     Jun 2, 2009
  5. well said! you do have the right to know. after all, it's your money

    these are fair questions, no doubt about it!

    moreover, you may want to ask even tougher questions, if you want. again, it's your money.

    couldn't agree more !!!!

    Varima
     
    #55     Jun 2, 2009
  6. spinn

    spinn

    #56     Jun 2, 2009
  7. kxvid

    kxvid

    Pics or bullshit.
     
    #57     Jun 2, 2009
  8. I used to have one. Not any more. Now I happily respond to whackos via clever internet messages.

    I use it to create business.

    It would do me no good to silence any detractor now.

    Successfully,

    Alex L. Wasilewski
    Co-Founder & Head Trader
    Trades That Work
    www.puretick.com
    1-877-GOLONG1 ( 1-877-465-6641 )
     
    #58     Jun 2, 2009
  9. "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 )"

    And here I thought brokers were getting an undeserved thumping on this thread for being assholes.
     
    #59     Jun 3, 2009
  10. Bolts

    Bolts

    Who needs friends or new customers when you have an AIRPLANE. The guy owns a fucking A.E.R.O.P.L.A.N.E. There were James Bond villains that didn't own an AIRPLANE. You don't fuck with AIRPLANE guy. :D
     
    #60     Jun 3, 2009