Worst Thing You've Seen By Another Broker
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[quote=Bobby Hull][quote=pretzelhead]
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My VA clients have averaged 25%/year over the last 4.5 years. Please suggest a way to "Crush" these returns.
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What funds inside of a VA have averaged 25%/year for the last 4.5 years? You are smoking crack. Do you also have some property in Florida that you like to show us?
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Why would I want to give helpful information to a punk like you?
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Well Bobby, us investment professionals, and you are excluded, know that past results are not indicative of future performance. So you could tell us, we could verify or prove it to be incorrect, and then all go along our separate ways. Without backing it up, we can see right through your sh*t.
[quote=wallstreeter][quote=Bobby Hull][quote=pretzelhead]
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My VA clients have averaged 25%/year over the last 4.5 years. Please suggest a way to "Crush" these returns.
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What funds inside of a VA have averaged 25%/year for the last 4.5 years? You are smoking crack. Do you also have some property in Florida that you like to show us?
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Why would I want to give helpful information to a punk like you?
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Well Bobby, us investment professionals, and you are excluded, know that past results are not indicative of future performance. So you could tell us, we could verify or prove it to be incorrect, and then all go along our separate ways. Without backing it up, we can see right through your sh*t.
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Here's the deal...past results ARE indicative of future performance. Things that suck, tend to continue to suck and things that do well, tend to continue to do well. In case noone's ever told you...given an option, people tend to choose the one that has made more money in the past. As far as backing it up goes....I have actual client statements that I show people. This is a very powerful tool. THEY are the ones that I care about believing me, not some punk on the internet.
Skippy, I wan't asking about Amerus, you dumbass, I was pointing to the two companies my client was put into, with the high surrender charge. Since I don't know your real name, I'll use dumbass.
[quote=Bobby Hull][quote=wallstreeter][quote=Bobby Hull][quote=pretzelhead]
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My VA clients have averaged 25%/year over the last 4.5 years. Please suggest a way to "Crush" these returns.
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What funds inside of a VA have averaged 25%/year for the last 4.5 years? You are smoking crack. Do you also have some property in Florida that you like to show us?
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Why would I want to give helpful information to a punk like you?
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Well Bobby, us investment professionals, and you are excluded, know that past results are not indicative of future performance. So you could tell us, we could verify or prove it to be incorrect, and then all go along our separate ways. Without backing it up, we can see right through your sh*t.
[/quote]
Here's the deal...past results ARE indicative of future performance. Things that suck, tend to continue to suck and things that do well, tend to continue to do well. In case noone's ever told you...given an option, people tend to choose the one that has made more money in the past. As far as backing it up goes....I have actual client statements that I show people. This is a very powerful tool. THEY are the ones that I care about believing me, not some punk on the internet.
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With the number of posts you have, it sure seems that you care what people think.
[quote=AllREIT]
Managed Futures: Smoke and mirrors with teeth.
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Tell that to my clients who have doubled their money in managed futures since 2007.
[quote=joedabrkr] [quote=AllREIT]
Managed Futures: Smoke and mirrors with teeth.
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Tell that to my clients who have doubled their money in managed futures since 2007.
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Joe, quick, what year is it?
[quote=joedabrkr] [quote=AllREIT]
Managed Futures: Smoke and mirrors with teeth.
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Tell that to my clients who have doubled their money in managed futures since 2007.
Joe, quick, what year is it?
[/quote]in the words of Homer Simpson "DOH!"
That should have read "2000"
Doubled your money in only 7 years! Wooo woo!
If only there were the greatest commodity bull market in history running during those 7 years.... Wait a minute...
WOW! Your Mangled Futures netted 10%/year while the price of oil per barrel only went up from $20 to $70, but a barrel of oil doesn't give you those 5% trails that make them so hard to liquidate!
Been there, got over that! When the Dollar was tanking and these MO RONs at John Henry still couldn't make money, I fired them and bought natural resource equities (many that paid 7% dividend yields) I knew which ones to buy by looking into all the Natural Resource Funds and buying what they didn't have!
[quote=Whomitmayconcer]
Doubled your money in only 7 years! Wooo woo!
If only there were the greatest commodity bull market in history running during those 7 years.... Wait a minute...
WOW! Your Mangled Futures netted 10%/year while the price of oil per barrel only went up from $20 to $70, but a barrel of oil doesn't give you those 5% trails that make them so hard to liquidate!
Been there, got over that! When the Dollar was tanking and these MO RONs at John Henry still couldn't make money, I fired them and bought natural resource equities (many that paid 7% dividend yields) I knew which ones to buy by looking into all the Natural Resource Funds and buying what they didn't have!
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The Natural Resource Funds weren't all that bad. Ivy's Natural Resources fund (IGNAX) did 308% from 2000-2007, 44% per year ain't too shabby.
Yes and what did it do from 1/1/2000 to 1/1/2004? Probably sat there like a lump. They all did because the sector was dead and nobody was putting money into them.
They had positions of a fe oli companies, a few oil service companies and maybe a gold and silver position. No coal, no Uranium, no metal (save precious), no Ag, very little timber/lumber.
When money flowed into those funds the managers had to buy the bejesus into all these areas. It was fun!
Of course I managed to get crushed buying whiteness! NL Industries had everything going for it (and even Kramer said so)... Yeeesh! For may I managed to get out with my 20% but them there were the others....
[quote=Whomitmayconcer]
Yes and what did it do from 1/1/2000 to 1/1/2004? Probably sat there like a lump. They all did because the sector was dead and nobody was putting money into them.
They had positions of a fe oli companies, a few oil service companies and maybe a gold and silver position. No coal, no Uranium, no metal (save precious), no Ag, very little timber/lumber.
When money flowed into those funds the managers had to buy the bejesus into all these areas. It was fun!
Of course I managed to get crushed buying whiteness! NL Industries had everything going for it (and even Kramer said so)... Yeeesh! For may I managed to get out with my 20% but them there were the others....
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The fund did 92% from 1/00-1/07. Still think it's pretty good, maybe not the best, but solid.
[quote=Whomitmayconcer]
Doubled your money in only 7 years! Wooo woo!
If only there were the greatest commodity bull market in history running during those 7 years.... Wait a minute...
WOW! Your Mangled Futures netted 10%/year while the price of oil per barrel only went up from $20 to $70, but a barrel of oil doesn't give you those 5% trails that make them so hard to liquidate!
Been there, got over that! When the Dollar was tanking and these MO RONs at John Henry still couldn't make money, I fired them and bought natural resource equities (many that paid 7% dividend yields) I knew which ones to buy by looking into all the Natural Resource Funds and buying what they didn't have!
[/quote]10 % in a diversified futures portfolio while the s&p is making a round trip that next to ZERO per annum return is just fine by me, sir!
And yes I could have made more elsewhere.
Your client could have, I don't think there were very many 5% trail vehicles otherwise available.
Streeter,
92% over that time period? Wow. That is good, so good that the rest of the period then stinks by comparison.
10,000 1/1/00 = 19,200 1/1/2004
19,200 1/2/2004 = 39,836 1/1/2007 (assuming the 23%, compounded)
That means that it would have done 298% (versus the number it did do which was just over 300% right?)
I don't know how he did so well in the beginning, but nobody can kick about the results anyway.
But if you had TIPs!!!! (Just kidding)
Point is, Managed Futures ARE less good than they ought to be. ARE too expensive given the alternatives. And 100% over 7 years is nothing to write home about.
Oh and most of the "Worst Things" I've seen over the years are things that I have done (but then those are the things I see the most of).
Maybe I'm the only one... And I didn't want what I had done to be the "worst thing" when I did them... But they were and I doubt I'm the only one.
[quote=Bobby Hull][quote=Indyone]16 different limited partnership interests…only one profitable. Initial total investment…just over $100K. Value a few years later when I did her tax return…just over $30K. The lady had a negative AGI as the bulk of her life savings were in these dogs.
...sold by an Edward Jones broker in the 1980's. He's still in business and considered highly successful.[/quote]
Did the Jones broker change the tax code that blew up the LP's? [/quote]
I'm sure he appreciates your defense, but the point is moot. He used one vehicle (LP's) to invest a little old lady's life savings...mostly in one industry. Common sense says that's a bad idea...completely lacking in diversification. I think he was a bit more concerned about yield to broker than suitability.
[quote=Whomitmayconcer]
Oh and most of the "Worst Things" I've seen over the years are things that I have done (but then those are the things I see the most of).
Maybe I'm the only one... And I didn't want what I had done to be the "worst thing" when I did them... But they were and I doubt I'm the only one.
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Yeah, in the beginning, there are a lot of "worst things" that we all probably did--not on purpose, just lack of experience.
All of us except, of course, Bobby...
Heard this story through our compliance training at my old firm:
A couple brokers on a team managed over like a 5 year period or so to send all client statements to a P.O. Box, then create their own statements (slightly altered of course) and sent those ones to the clients. Over that time period they managed to scam $300 Million from the clients. Needless to say, they are in jail now and won't be getting out anytime soon.