Citibank / citi personal wealth mgmt advisors
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Here’s how I know for a fact that you do not know how to ‘crunch numbers’ as you say Perma.
Some quick math for you. If you made say 250k a year at your current job and had say 500k in investable assets you would lose money investing for yourself. At 250k per year you make $125 an hour (2000 hours per year). If you invest your own money you would need to spend at least 20 hours per week in research and number crunching to have any shot at making smart decisions. With 500k in investable assets you'll pay no more than $75k per year to have someone make solid investing decisions for you (fee or transaction based, those numbers are HIGH either way, more like 50k). So, if you really were able to crunch numbers you'd know that your SPENDING $125k per year to invest for yourself in time but you could spend $75k in to 'outsource' this. Any smart professional (Doctor, Lawyer, FA, CPA, etc) knows that your TIME is worth more than those that you outsource to. Can a Doctor take care of his own lawn as well or better than a Landscaping service? Absolutely, but his time is worth more than the gardener's. So, in conclusion, if you make 50k per year you are absolutely right. You can manage your money for less than someone like me. That's because my time is worth more than yours. Once you make some real money, then you can come see me. Until then, I'll just outsource activities to someone like you. There is a reason affluent individuals outsource as much as they can. Because they can CRUNCH NUMBERS where as middle-class folks like you cannot. It's called leveraging the only thing on earth that is truely finite. TIME. Learn to leverage your time and you'll figure it out.Who is this guy? Though is he right on LSU's math, might want to do that again LSU.75k in fees…are you insane .i’m thinking that was a typo. 20 hours a week research…why?
maybe if you’re retarded.this mkt is so easy to trade with zero research. Your B.S. comment does not explain why every major brokerage firm is losing assets faster than they can get them and all of those $ are moving to schwab and fidelity. Smart people realize that you guys are worthless and not anywhere worth the fees you charge. I got some scary news for you also. They are not coming back . Everyone on this forum …( except permabear ) is circling the drain and when the mkt corrects big time ( this week ) you should hear the FLUSH ! You guys should get to sleep now because after this week you will be completely exhausted trying to fight off the ACATS out. Sorry , but true
20 hours in research. Now I know you are an idiot. People are on here bragging about that they only work 20 hours a week. When do you talk to your clients? You “advisors” are all liars.
If you are so smart, and this market is so easy to trade, tell us again why you failed as a broker.75k in fees…are you insane .i’m thinking that was a typo. 20 hours a week research…why?
maybe if you’re retarded.this mkt is so easy to trade with zero research. Your B.S. comment does not explain why every major brokerage firm is losing assets faster than they can get them and all of those $ are moving to schwab and fidelity. Smart people realize that you guys are worthless and not anywhere worth the fees you charge. I got some scary news for you also. They are not coming back . Everyone on this forum …( except permabear ) is circling the drain and when the mkt corrects big time ( this week ) you should hear the FLUSH ! You guys should get to sleep now because after this week you will be completely exhausted trying to fight off the ACATS out. Sorry , but true
If you are so smart, and this market is so easy to trade, tell us again why you failed as a broker. Ahhh, now I know. Bitter about failing now comes on a public website to "expose" us brokers. Hey, if it keeps him from climbing a water tower, have at it, though it would be better if he just started a one man cult and drank the koolaid....hey EJ is hiring.[/quote][quote=meletio]75k in fees…are you insane .i’m thinking that was a typo. 20 hours a week research…why?
maybe if you’re retarded.this mkt is so easy to trade with zero research. Your B.S. comment does not explain why every major brokerage firm is losing assets faster than they can get them and all of those $ are moving to schwab and fidelity. Smart people realize that you guys are worthless and not anywhere worth the fees you charge. I got some scary news for you also. They are not coming back . Everyone on this forum …( except permabear ) is circling the drain and when the mkt corrects big time ( this week ) you should hear the FLUSH ! You guys should get to sleep now because after this week you will be completely exhausted trying to fight off the ACATS out. Sorry , but true
Who is this guy? Though is he right on LSU's math, might want to do that again LSU.[/quote] The math is extreme. But extreme in the favor of being unlikely. For instance if you were using a hedge fund you could pay 2% upfront and 20% of your gains. So, $500k pays 10k to get in, and if it made 100% return (generating $500k in returns, it would generate, 100k in fees). So I went with a crazy high return rate of 40% which generates 200k in returns and thus 40k in fees. Basically, if you had an extremely expensive year from the point of returns and fees it still makes more sense than doing it yourself (provided you have high enough assets). For a basic 1% advisory fee it's 5k per year, but that makes the argument all the more rediculous for doing it yourself with a high amount of investable assets. As for the 20 hours a week being outrageous? You are a fool if you think you can out perform the market and advisory firms materially if you don't spend AT LEAST that amount of time.[quote=meletio]75k in fees…are you insane .i’m thinking that was a typo. 20 hours a week research…why?
maybe if you’re retarded.this mkt is so easy to trade with zero research. Your B.S. comment does not explain why every major brokerage firm is losing assets faster than they can get them and all of those $ are moving to schwab and fidelity. Smart people realize that you guys are worthless and not anywhere worth the fees you charge. I got some scary news for you also. They are not coming back . Everyone on this forum …( except permabear ) is circling the drain and when the mkt corrects big time ( this week ) you should hear the FLUSH ! You guys should get to sleep now because after this week you will be completely exhausted trying to fight off the ACATS out. Sorry , but true
[quote=Mr.Blonde][quote=meletio]75k in fees…are you insane .i’m thinking that was a typo. 20 hours a week research…why?maybe if you’re retarded.this mkt is so easy to trade with zero research. Your B.S. comment does not explain why every major brokerage firm is losing assets faster than they can get them and all of those $ are moving to schwab and fidelity. Smart people realize that you guys are worthless and not anywhere worth the fees you charge. I got some scary news for you also. They are not coming back . Everyone on this forum …( except permabear ) is circling the drain and when the mkt corrects big time ( this week ) you should hear the FLUSH ! You guys should get to sleep now because after this week you will be completely exhausted trying to fight off the ACATS out. Sorry , but true
Who is this guy?
Though is he right on LSU’s math, might want to do that again LSU.[/quote]
The math is extreme. But extreme in the favor of being unlikely. For instance if you were using a hedge fund you could pay 2% upfront and 20% of your gains. So, $500k pays 10k to get in, and if it made 100% return (generating $500k in returns, it would generate, 100k in fees). So I went with a crazy high return rate of 40% which generates 200k in returns and thus 40k in fees. Basically, if you had an extremely expensive year from the point of returns and fees it still makes more sense than doing it yourself (provided you have high enough assets).
For a basic 1% advisory fee it’s 5k per year, but that makes the argument all the more rediculous for doing it yourself with a high amount of investable assets.
As for the 20 hours a week being outrageous? You are a fool if you think you can out perform the market and advisory firms materially if you don’t spend AT LEAST that amount of time.[/quote]
Your math doesn’t take into account the LOSING of money. Of which I haven’t since I fired my broker.
Let’s say I pay a broker 1% of $1 million. $10 grand right? And then a year later it’s at $600k. So I paid $10K to lose $400k? Yeah, that’s worth.
Here’s a little bit better math. I spend a little bit of time developing some trading algorithms. Pay a discount brokerage a few hundred dollars a year in trading costs, and while you are losing your clients’ money, I MADE money.
Do you have Turrets or something? Why would you waste your time coming onto an advisor forum? Recession got you down? No wait, you’re Chris Hansen of dateline NBC?
I was hoping to help you realize what kind of crooks you were. Maybe those of you with a conscience will actually find some honorable work. Like ditch digging.
Oh god, trading algorithms? Did your IT background help you with that. Let me guess, you invested all your money in Mach of this year and now you’re an expert…we run into people like you all the time, when you leave our office we laugh our asses off
You won’t ever find me in one of your offices. I’ve been investing on my own since 2000. I lost zero money in this last bear market. How many of your clients’ can say that? Forget March. Those of us who are skilled traders made money even after Oct. 2007.
People like me will end up putting you crooks out of business. Once more people catch on to your ponzi scheme. Take money from the rich, and line your pockets.
Just call us your everyday Robin Hood! You're a f***ing clown! Skilled trader! You are affectionately known as overhead in any corporation!You won’t ever find me in one of your offices. I’ve been investing on my own since 2000. I lost zero money in this last bear market. How many of your clients’ can say that? Forget March. Those of us who are skilled traders made money even after Oct. 2007.
People like me will end up putting you crooks out of business. Once more people catch on to your ponzi scheme. Take money from the rich, and line your pockets.
no wait, ever seen office space? you’re Milton! “have you seen my stapler”?
Yep, and you're Michael Bolton - A wannabe at everything. Thinks he's a gangster and a Navy SEAL. "What's up G?".
I can't believe you've fooled yourself into thinking you actually help people.
Oh, you're racist too. What do you do? Career student? Unemployed? Male prostitute? Losergo back to China slant eyes