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Talking stocks, trading, and investing in general

Discussion in 'Business, Careers & Education' started by mikeman, Feb 2, 2011.

  1. lawyerdad

    lawyerdad Senior member

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    If you're not getting a whiff of negative news out of China every day, you don't have a nose.
    And I have to agree with idfnl vs. medwed on Chinese vs. American stocks. Not that there isn't fraud, etc. in the U.S. capital markets, but there's a historical/cultural baseline of transparency and regulation here that simply doesn't exist in China.

    I hate to seem like I'm using the tactic of arguing from private authority, so take this comment with as large a dose of salt as you want. But when I was on the government teat, I did a fair amount of work on issues relating to Chinese companies seeking access to the U.S. capital markets. Some of what I came across -- even allowing for the fact that it was anecdotal and not necessarily a representative sample -- was so shocking as to be comical. It's not just about the truthfulness of corporate management and reported financials, but also about the veracity of bank statements and other things auditors and regulators rely on here to test and verify management's reporting. Again, all sorts of sketchy stuff happens here as well. But my personal opinion is that the underlying systems and cultural expectations are so wildly different that you really can't evaluate investments in U.S. and Chinese companies by the same criteria (or at least not with equal degrees of credulousness).
     
    Last edited: Mar 13, 2014
    3 people like this.
  2. Medwed

    Medwed Senior member

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    So, Chinese are not as sophisticated in deception, that is my take away from this conversation.
     
  3. Joffrey

    Joffrey Senior member

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    About to purchase another chunk of this ETF - VTI. Probably on Friday.
     
  4. lawyerdad

    lawyerdad Senior member

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    [​IMG]
     
  5. seeldoger47

    seeldoger47 Senior member

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    I wouldn't touch Chinese stocks. China looks like it is shaping up to be the next Japan.

    If you want to play China in some way consider shorting Australian iron ore producers or Japanese shipping firms with significant exposure to Chinese demand.
     
  6. Cantabrigian

    Cantabrigian Senior member

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    That's a new one.
     
  7. idfnl

    idfnl Senior member

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    Perhaps its the eyes?
     
  8. seeldoger47

    seeldoger47 Senior member

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    It's not at all new.
     
    Last edited: Mar 14, 2014
  9. stevent

    stevent Senior member

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  10. lawyerdad

    lawyerdad Senior member

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    Eh. Did you click on "how we make money"? Rather than giving a clear answer, they start talking about how efficient they are. Any time the marketing pitch sidesteps the question of how they're making money off you, it raises a question mark.

    Yes, they sort of, kind of answer the question later. I gather this is sort of an attention-grabber/loss-leader for them so they can market fee-based services. But it's all a bit vague, which would worry me a bit. And while I generally understand (I think) what "tax loss harvesting" means, I have no idea how it would be employed to make the provider money (unless the idea is that for a fee they'll tax-manage your account rather than just letting it blindly follow the automated diversification program?)
     
    1 person likes this.
  11. idfnl

    idfnl Senior member

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    The "don't worry about it" model.
     
  12. crispeta

    crispeta Well-Known Member

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    Somebody picked up some Castlight?
     
  13. idfnl

    idfnl Senior member

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    I picked up some BA on the dip.
     
  14. amerikajinda

    amerikajinda Senior member

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    Anybody thrown some money at these guys? www.wealthfront.com

    I might test it out on a smaller scale just to see how they do... certainly cheaper than Merrill Lynch.
     
  15. jbarwick

    jbarwick Senior member

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    Unless you are completely clueless, I do not see the need for a financial advisor.
     
  16. lawyerdad

    lawyerdad Senior member

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    Maybe I would add "too busy/can't be bothered/would rather spend the time and energy elsewhere" to "clueless", but I basically agree. Every time your money passes through another set of hands, a bit of it will stick the handler's figures. All else being equal, you want fewer people touching your money, not more.
     
    1 person likes this.
  17. otc

    otc Senior member

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    While I don't use one myself, I could see the desire to have one in the future.

    I happen to take a personal interest in it (and it is tangentially related to my work and studies), but for a lot of people, their time is better spent on other pursuits. They should know the basics so they don't get swindled, but like a good tax accountant, a good adviser could be helpful...because if you are a poetry major who didn't even take math in college (let alone anything that exposed you to finance), you are going to have to spend a lot of time thinking about something you don't like and aren't good at.

    If I was in a more complex situation, I would definitely consider a fee-only adviser (never one that took a % or got kickbacks from funds). Possibly in conjunction with whoever does my taxes. There are lots of small changes that can pay off over time, and the interactions between assets (and their relationships to taxes) can be complicated. If you have a fairly large net worth, kicking some money to a professional to deal with it all could be worth it, if only for the fact that it frees up your time to spend on things that interest you. You can even maintain the final say on asset allocation and strategy...just pay someone to rebalance, and harvest losses, and deal with reporting requirements the same way you might hire someone to clean your house or mow your lawn.

    But, again, I also take some personal entertainment value form dealing with it myself...and my assets are very simple (and not big enough for me to think it is worth paying a grand a year to an adviser).
     
    Last edited: Mar 19, 2014
  18. chogall

    chogall Senior member

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    Unless you are uber poor, you do need at least one financial advisor if not more, for access to different financial products that you need.

    Besides, for those of us who are productive enough in their current position (or on styleforum), financial advisors/accountants/legal counsels are great time savers.
     
  19. jbarwick

    jbarwick Senior member

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    I knew I would eat my words saying that but I do agree you can pay for some things but only if the advisor provides the service of advice and not tracking my portfolio. I have a tax accountant to do my taxes because that does get more complex than I care to worry about.

    I am also to a point where my net worth is laughable but then again I am in my 20s and if my portfolio did somehow hit 8 figures in my life it would be a stretch goal.
     

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