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How did your Wall Street guru do?

How did your Wall Street guru do?


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About the Book

*Few stock-picking gurus do well for long *Last year's genius is this year's loser *Gurus' forecasts are correct less than 50% of the time *Gurus attract money which then dilutes high returns *Computer trading beats the best gurus consistently "My wealth has come from a combination of living in America, some lucky genes, and compound interest." Warren Buffett I have been in the financial services business for over 20 years. I have seen a lot of changes. I am ready to retire. I hope this book will be useful to the next generation of investors. Most of the changes in the financial advice business have involved the trend to the commoditization of most financial products. The trend has led to a bifurcation of the industry. On the one hand, Registered Investment Advisors, (RIA) provide advice for compensation as fiduciaries. This means they have a "fundamental obligation to provide suitable investment advice and always act in the clients' best interests." High-end RIAs provide personal service to wealthy clients with fees tailored to their millions of dollars invested. Their fee schedules are 0.01-0.05% not the retail rates of 1.5-3%. Clients get richer by compounding high returns. On the other hand, most retail brokers and financial advisors work for a major firm, building their sales the traditional way. They share commissions and fees as they offer their firms' products to customers with less than a $1 million. Most products are structured to provide the firm with revenue and are not the best products available for the average investor (earning 2.56%*). The trend leader in the industry is the discounter. For $5 or less, you can now buy and sell shares of companies, mutual funds, and market index funds (ETF) online without assistance. You can trade more sophisticated securities too. Direct to consumer insurers and agencies have joined discounters on TV.
About the Author: Ian Sender has been a financial services executive for over 20 years. He was a managing director of sales units of securities firms. He is one of the Insiders who contributed to the The Insiders Guides set of buyers' guides edited by Dan Keppel. Ian lives in New Jersey and the Caymans.


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Product Details
  • ISBN-13: 9781490533278
  • Publisher: Createspace Independent Publishing Platform
  • Publisher Imprint: Createspace Independent Publishing Platform
  • Height: 229 mm
  • No of Pages: 68
  • Spine Width: 4 mm
  • Weight: 154 gr
  • ISBN-10: 1490533273
  • Publisher Date: 26 Jun 2013
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Sub Title: Stock traders can't make you rich
  • Width: 152 mm


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