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Things that are pissing you off. - Page 3016

post #45226 of 66478
Quote:
Originally Posted by A Canuker View Post



I would agree that 1% or greater can be a hefty fee to pay and most people who are in the position to need a manager would/should be paying less but there is a degree of fault of the consumer to make sure that they are paying a fee that is both fair and stated up front. I find it hard to feel sorry for people who purchase something, advised or not, where the fee is found to be higher than expected after the fact.

I have never gone with a WM person as I always have them buy me lunch and lay out all the fees ahead of time. I've yet to have one come in less than 1%.

I agree with your analysis that the most successful folks in your line of work will have all three criteria. I guess I have not met one yet as I also ask them for sample portfolios with five and ten year return analysis, net of charges. Never even come close to beating a simple index fund portfolio. If I could find a guy that could beat the market, on a consistent basis net of fees, I would certainly give what he had to say serious listening.
post #45227 of 66478
Quote:
Originally Posted by munchausen View Post

Here's the weird part of that story. The cops showed up and he blew a .27 and didn't get arrested. I can't for the life of me understand it.

If he's the sad sack you described, cops could have felt bad for him. My dad had a friend who couldn't get a DUI to save his life. He refused to quit drinking so his wife kicked him out and he was staying in their RV. He proceeded to sideswipe numerous cars on the highway with the RV and after being pulled over was told to "sleep it off."
post #45228 of 66478
If the goal is to beat the market (I assume we're talking about the S&P), I would add to that beating it on a risk adjusted basis is important. The goal can also be income, diversification, ect. I suppose if this were not my personal interest I would find strategy and allocation to be worth paying for.
post #45229 of 66478
Quote:
Originally Posted by SkinnyGoomba View Post

If the goal is to beat the market (I assume we're talking about the S&P), I would add to that beating it on a risk adjusted basis is important. The goal can also be income, diversification, ect. I suppose if this were not my personal interest I would find strategy and allocation to be worth paying for.

Well, let's look at income. I will assume one wants income only when one is not working so what types of instruments are we talking here?
post #45230 of 66478
Quote:
Originally Posted by munchausen View Post

Here's the weird part of that story. The cops showed up and he blew a .27 and didn't get arrested. I can't for the life of me understand it.

Munchie, not sure how it works there but cops here often release DUI people and then issue them a summons for court months later.
post #45231 of 66478
I start the new job Monday, and I realized I haven't yet sent back a signed copy of the offer letter they emailed when I accepted. I got a bunch of other paperwork from them to bring with me when I start, which made me catch the oversight. I feel like a complete fucking idiot. facepalm.gif
post #45232 of 66478
Quote:
Originally Posted by MrG View Post

I start the new job Monday, and I realized I haven't yet sent back a signed copy of the offer letter they emailed when I accepted. I got a bunch of other paperwork from them to bring with me when I start, which made me catch the oversight. I feel like a complete fucking idiot. facepalm.gif

im sure it will be fine, G. dont feel dumb about it, just get er done and rock the new job.

--

co-workers who hover over your desk for no reason.
post #45233 of 66478
Quote:
Originally Posted by Piobaire View Post

Well, let's look at income. I will assume one wants income only when one is not working so what types of instruments are we talking here?

Dividends from stocks and coupons from bonds, bond funds, mortgage backed securities and other debt instruments. There is a lot to consider, including sustainability of payments and ability to increase payments consistently over time (everyone likes a raise). For bonds, one would want to consider many things including how the funds are structured. Some bond funds for instance boast a higher yield but often at the cost a longer duration, which can we be troubling in the current environment for bonds.
post #45234 of 66478
No annuities?
post #45235 of 66478
Mild but lingering hangover this morning. Ugh. Need to stock up on half bottles of wine because I have no self-restraint after opening a full bottle.
post #45236 of 66478
The thing with half bottles is they are rarely (price of full bottle)/2. While I have tried your strategy the Scots in me just canna abide by the rip off!
post #45237 of 66478
Quote:
Originally Posted by Piobaire View Post

I have never gone with a WM person as I always have them buy me lunch and lay out all the fees ahead of time. I've yet to have one come in less than 1%.

I agree with your analysis that the most successful folks in your line of work will have all three criteria. I guess I have not met one yet as I also ask them for sample portfolios with five and ten year return analysis, net of charges. Never even come close to beating a simple index fund portfolio. If I could find a guy that could beat the market, on a consistent basis net of fees, I would certainly give what he had to say serious listening.

You're not going to find that. The thing is, a lot of people can't even make the market returns on their own. Whether it is from stupidity or lack of interest/time to figure it all out.

Most people who are at the level of discussion going on in this thread probably don't need WM services. You clearly have more than a passing interest in this stuff and have done enough research to figure stuff out.

There are plenty of people who haven't done that research and find that it makes them bored out of their mind to even start. To those people, paying a fee to an adviser seems like a great deal since they don't have to learn or think about anything and just have to go visit some guy once a year.
post #45238 of 66478
Quote:
Originally Posted by Piobaire View Post

The thing with half bottles is they are rarely (price of full bottle)/2. While I have tried your strategy the Scots in me just canna abide by the rip off!

Yeah... About the only times I will buy a half bottle is at a restaurant where I want to match better to courses or a dessert wine.

Besides, it's very hard to find good half bottles. Just don't drink the whole thing in one night, most wines will do fine for a couple of days properly stored.
post #45239 of 66478
Quote:
Originally Posted by aravenel View Post

Just don't drink the whole thing in one night, most wines will do fine for a couple of days properly stored.

the rub
post #45240 of 66478
Quote:
Originally Posted by Piobaire View Post

No annuities?

I dont use them, I'm too young to need them. They're likely composed of some combination of those securities previously mentioned since they usually rely on securities which pay a distribution to offset their need to distribute the principal.

I feel it's a bit ridiculous to pay someone to give me back my own money over a period of time. If i needed to do that I would want to do it on a basis which allows me to minimize cap. gains.

A perpetuity would also be composed of similar securities, however it would not distribute the principal.
Edited by SkinnyGoomba - 3/29/13 at 10:35am
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