VARNEY: America’s wealth has gone up more than $5 trillion since the election

[DriftBusta]

13 minutes ago, 1jkw said:

20% over the last 5, Thanks Obama.your local competent financial advisor

Lets be clear here.

[Angry ginger]

2 minutes ago, DriftBusta said:

Lets be clear here.

could have thrown it in an index fund and got those returns no advisor needed

[DriftBusta]

14 minutes ago, f7ben said:

I'm basing it on the fact that we have a 125 years of data to prove what goes up must come down.....its cyclic and always has been. Its been a hell of a run and there are 1000 things that make me think this bubble pops

The point is, you keep riding it.  And if you start seeing a correction, you'll have plenty of time to pull back if thats really what you want.  It takes 1 freaking day to pull out during a downturn.  I'm as surprised as anyone at the markets, but its pretty clear to me now we're going to hit 23k on the Dow, probably in the next couple weeks.

[DriftBusta]

Just now, Angry ginger said:

could have thrown it in an index fund and got those returns no advisor needed

No you can't, and thanks for the fu.  

Edited October 8, 2017 by DriftBusta

[f7ben]

4 minutes ago, DriftBusta said:

No you can't, and thanks for the fu.  

ahh....I picked some random mix of funds and got great returns the last 7 years.....its been a retard market heading up like a rocket. If people didnt make money its because they werent in

[bussman]

34 minutes ago, f7ben said:

You have to discount the 24 hour news cycle....there has never been a less violent time to be a part of the human condition 

Couldn't agree more. Life is good, and it is for most of us. 

[bussman]

31 minutes ago, motonoggin said:

Communities will find it is wise to be well armed. But I find myself wondering why we would have to worry about that if we didn't operate under an exploitative system that caused war to begin with.

Resources for one. 

[f7ben]

Just now, bussman said:

Couldn't agree more. Life is good, and it is for most of us. 

I cant help but empathize with those taken advantage of by the current system though. Can you imagine how fuck dreadful it would be to be born in Iraq or Pakistan or Syria in the last decade. We in the US with all our wealth and power should be a shining beacon of light in this world......sadly if our government is involved at all that is not the case 

[1jkw]

15 minutes ago, DriftBusta said:

Lets be clear here.

Same could be said now.

[JEFF]

32 minutes ago, motonoggin said:

Communities will find it is wise to be well armed. But I find myself wondering why we would have to worry about that if we didn't operate under an exploitative system that caused war to begin with.

Resources.

[bussman]

32 minutes ago, DriftBusta said:

I got a buddy who's kid has joined the hippy commune lifestyle out in Oregon.  Good kid, we all used to race motocross together, and he's on my FB.  But my god he's completely delusional.  He must smoke a giant joint for breakfast every morning and grew some killer zucchini's for his community this year.

Thankfully he lives in such a wealthy capitalist society where the lazy like him can afford to ride the workers coat tails. 

[f7ben]

3 minutes ago, bussman said:

Thankfully he lives in such a wealthy capitalist society where the lazy like him can afford to ride the workers coat tails. 

the elites born into wealth could have the same said about them ....in fact most wealth is created by labor and without it none of these rich fucks last a week 

[motonoggin]

5 minutes ago, f7ben said:

the elites born into wealth could have the same said about them ....in fact most wealth is created by labor and without it none of these rich fucks last a week 

All real wealth is created by labor. 

[motonoggin]

[f7ben]

1 minute ago, motonoggin said:

that is a pretty stupid meme ....as usual the truth is somewhere in the middle....the value of innovation and intellectual property is not represented there 

[motonoggin]

1 minute ago, f7ben said:

that is a pretty stupid meme ....as usual the truth is somewhere in the middle....the value of innovation and intellectual property is not represented there 

Labor isn't just physical. Intellectual labor is just as important. 

The foundation of capitalism is built upon extraction of value from someone else's labor. That is what I intended to demonstrate with this meme

[DriftBusta]

40 minutes ago, 1jkw said:

Same could be said now.

You're absolutely wrong.

39 minutes ago, bussman said:

Thankfully he lives in such a wealthy capitalist society where the lazy like him can afford to ride the workers coat tails. 

If it wasn't for his rich, pampering parents, he wouldn't have even been able to pay for his air fare.  This guy has an HVAC company with 30 trucks on the road, and he's got 3 boys, none of whom's head is wrapped around the notion that they could walk into the greatest opportunity of their lives.  Ones an "aspiring musician"  who sleeps on a friend couch, and the other it making just over minimum wage.  Then there's Kyle posting pot laden philosophical illogical delusion on FB daily.  He's like Moto without the guns.

Edited October 8, 2017 by DriftBusta

[DriftBusta]

 

2 hours ago, f7ben said:

that is a pretty stupid meme ....as usual the truth is somewhere in the middle....the value of innovation and intellectual property is not represented there 

there's hope for you yet.

2 hours ago, motonoggin said:

Labor isn't just physical. Intellectual labor is just as important. 

The foundation of capitalism is built upon extraction of value from someone else's labor. That is what I intended to demonstrate with this meme

well you failed.

[motonoggin]

[racinfarmer]

2 hours ago, DriftBusta said:

You're absolutely wrong.

If it wasn't for his rich, pampering parents, he wouldn't have even been able to pay for his air fare.  This guy has an HVAC company with 30 trucks on the road, and he's got 3 boys, none of whom's head is wrapped around the notion that they could walk into the greatest opportunity of their lives.  Ones an "aspiring musician"  who sleeps on a friend couch, and the other it making just over minimum wage.  Then there's Kyle posting pot laden philosophical illogical delusion on FB daily.  He's like Moto without the guns.

Got to remember: Grandpa started it, dad built it, the kids spent it.

[ArcticCrusher]

10 hours ago, DriftBusta said:

Top quartile?  Stevie wonder can do that. I have several really good models that test well north of the S+P index over the past 1-3-5-10 years, and north of 20% annually over the past 5.  Plus its loaded with div stocks spread among all economic sectors that you can flip a switch and kick off a nice income when you're ready.  Downside protection, actively managed mfs, indexed ETFs and fingers into many up and comer tech and healthcare stocks.  And I'm no Warren Buffet.  But i know more than 95% of the people who walk in my door, and 80% probably dont even understand what I just said.  

I could show you data until the cows come home.  You're basing your investment strategy on emotion, not fundamentals.  I thought the market was peaked at 21k....wtf do I know?  What are your indicators that a correction is right around the corner, cuz this isn't 08-09.

Well I do understand that.  Also models applied today looking back are pretty much useless like a bookie betting on games he already knows what the outcomes will be.  

The only thing that matters is forward on.

That's why I like mutual funds, tons of data to analyse and you can see how they did over the down periods relative to their periods.  20% is no easy feat over the long period, the fund I posted earlier (Global Equity) comes close to that over 10 years at about 18%.  

http://quote.morningstar.ca/quicktakes/Fund/f_ca.aspx?t=F000002ESK&region=CAN&culture=en-CA

There is really no way to have good positions and avoid losses at some point over the long term.  If you are in that situation, your overall returns are sucking wind over the long period.

 

[Snoslinger]

9 hours ago, DriftBusta said:

You're absolutely wrong.

If it wasn't for his rich, pampering parents, he wouldn't have even been able to pay for his air fare.  This guy has an HVAC company with 30 trucks on the road, and he's got 3 boys, none of whom's head is wrapped around the notion that they could walk into the greatest opportunity of their lives.  Ones an "aspiring musician"  who sleeps on a friend couch, and the other it making just over minimum wage.  Then there's Kyle posting pot laden philosophical illogical delusion on FB daily.  He's like Moto without the guns.

nobody gives a shit about yor friend or your friend's kids 

sound familiar? 

[DriftBusta]

 

1 hour ago, ArcticCrusher said:

Well I do understand that.  Also models applied today looking back are pretty much useless like a bookie betting on games he already knows what the outcomes will be.  

The only thing that matters is forward on.

That's why I like mutual funds, tons of data to analyse and you can see how they did over the down periods relative to their periods.  20% is no easy feat over the long period, the fund I posted earlier (Global Equity) comes close to that over 10 years at about 18%.  

http://quote.morningstar.ca/quicktakes/Fund/f_ca.aspx?t=F000002ESK&region=CAN&culture=en-CA

There is really no way to have good positions and avoid losses at some point over the long term.  If you are in that situation, your overall returns are sucking wind over the long period.

 

True regarding the hindsight analysis, but its still a good indication of how like you said, the investment performed during a downturn.  But fortunately the objective is to not chase gains, but to build a model that aligns with the clients needs, gives them some down side protection, and is diversified among industry sectors and investment types.  Now lots of people read an article in People magazine that touts etf's and index funds.  Which index?  Why not multiple indexes, and in what percentages?  Thats where $ are made and lost.  Last year international and emerging stocks were getting their ass handed to them.  This year they're on fire.  A good advisor will help steer someone who doesn't follow this stuff regularly (95% of the population) and more than earn their fees.  The DOL ruling really effed up the industry, but putting these level fee/best interest rules just for retirement accounts....the notion being that a fee based platform is better for the client than just paying an upfront A share commission, which is silly for many passive investors.   If it was just about fees, fee based is more expensive to the client, and I make more, over time than a one time upfront sales charge when they bought in.   Yet thats what consumers are being sold, that this DOL law is going to benefit them.  The flipside, at least here in the US, is that there are a bunch of unscrupulous fucks burying people in annuities, or selling a 75 year old lady A shares, which aren't appropriate for many, and pay a nice fat 5-7% commission.  Many local banks are really guilty of this.  Anyone tells you to put more than 25-35% of your assets into an annuity is doing the client a disservice.  I know I've only been at this a couple years, but the stuff you learn and the tools you get access to when you're in the industry is amazing.  Getting to sit in a room with 15 other guys who collectively manage over a billion bucks of other peoples money is pretty cool, because the vets are constantly teaching the new guys the wisdom, cautions, etc., that you need to be successful.  If you can build a model that earns those kinds of returns, leverage part of it with insurance/ltc, and keep the client from taking more than a 4-5 % draw down, that money will last generations.  How does it work in Canada for do it yourselfers to buy mutual funds?  Do they have different classes/fee structures?  I have a cousin who moved from northern Maine to Toronto over 50 years ago, and got into the investment game in his 60s.  He's been killing it, and has a bunch of initials after his name, including CFP, which I plan on doing in another year when Jones will pay for it.     

1 hour ago, Snoslinger said:

nobody gives a shit about yor friend or your friend's kids 

sound familiar? 

No... 

Edited October 8, 2017 by DriftBusta

[ArcticCrusher]

23 minutes ago, DriftBusta said:

 

True regarding the hindsight analysis, but its still a good indication of how like you said, the investment performed during a downturn.  But fortunately the objective is to not chase gains, but to build a model that aligns with the clients needs, gives them some down side protection, and is diversified among industry sectors and investment types.  Now lots of people read an article in People magazine that touts etf's and index funds.  Which index?  Why not multiple indexes, and in what percentages?  Thats where $ are made and lost.  Last year international and emerging stocks were getting their ass handed to them.  This year they're on fire.  A good advisor will help steer someone who doesn't follow this stuff regularly (95% of the population) and more than earn their fees.  The DOL ruling really effed up the industry, but putting these level fee/best interest rules just for retirement accounts....the notion being that a fee based platform is better for the client than just paying an upfront A share commission, which is silly for many passive investors.   If it was just about fees, fee based is more expensive to the client, and I make more, over time than a one time upfront sales charge when they bought in.   Yet thats what consumers are being sold, that this DOL law is going to benefit them.  The flipside, at least here in the US, is that there are a bunch of unscrupulous fucks burying people in annuities, or selling a 75 year old lady A shares, which aren't appropriate for many, and pay a nice fat 5-7% commission.  Many local banks are really guilty of this.  Anyone tells you to put more than 25-35% of your assets into an annuity is doing the client a disservice.  I know I've only been at this a couple years, but the stuff you learn and the tools you get access to when you're in the industry is amazing.  Getting to sit in a room with 15 other guys who collectively manage over a billion bucks of other peoples money is pretty cool, because the vets are constantly teaching the new guys the wisdom, cautions, etc., that you need to be successful.  If you can build a model that earns those kinds of returns, leverage part of it with insurance/ltc, and keep the client from taking more than a 4-5 % draw down, that money will last generations.  How does it work in Canada for do it yourselfers to buy mutual funds?  Do they have different classes/fee structures?  I have a cousin who moved from northern Maine to Toronto over 50 years ago, and got into the investment game in his 60s.  He's been killing it, and has a bunch of initials after his name, including CFP, which I plan on doing in another year when Jones will pay for it.     

No... 

 

In Canada we have different class share of mutual funds.

Series A - is what most retail investors buy into and have the lowest requirements, but typically have the highest MERs.  They come in no-load and upfront sales commissions.  Nobody should be paying upfront commissions.

Series B and C and are typically deferred sales charge that goes to zero after about 5 years.  Don't understand why these are even offered anymore.

Series F are much like the series A, but have no upfront sales options and strip out the trailing commission.  You pay an adviser an negotiated fee for service  and the net MER fund company + adviser fee is typically about .25 - 0.5% lower than the A share.  The more you have the more you can negotiate.

 

There are others like H series that deal with return of capital structures and I series, similar to F but in fee based but even higher net worth. 

Every fund or strategy has an index it's measured against, obviously we overlap indexes when we diversify, but I'm very heavy equity weighted.  Last year 2016, the Global Equities lagged a bit, but Canadian Equities (bought back in early 2016) did well, this year the Global and International Equities are leading with Canadian Lagging, go Trudeau.   That is why I aim for a long term 10% average return. 

 

We have had a recent change called a CRM2 that shows clients the fees paid to either advisers or to the brokerage, with the F -Series that is a no brainer, but many people are really too stupid to know and think they aren't paying anything.

Good advice is worth it, unfortunately here in Canada most large institutions believe if they can get you  4% without much risk, that's good, that is not worth paying anything for.  To that I say, you will forever be working for your money cause it will never be working for you. 

 

[DriftBusta]

Interesting, A shares here are all front loaded, but have lower 12b-1 fees (I assume equivalent to your MERS?).  C shares are no load, but have higher 12b-1 fees that make them more expensive over the long run, and also can have a deferred sales charge.  Most of the other classes are depending on who's investing in them, like 401ks, annuitys, etc..  I like a good mix of mf's, etfs, and a good assortment of quality div stocks.  If you can, throw in some bonds or annuities if your risk averse.   The one thing they pound into our heads with this company is to be very transparent about fees, initiate the conversation, don't obfuscate or dance around it.  It sounds a little stodgy, but based on earning trust and delivering results, and most companies do dance around it, or at least hey did before the fiduciary rules.  Now we can be sued if its found that we didn't act in the clients best interest, and thats new.   2/3 of our business comes from referrals.  People like us.