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#31
05-07-2005, 12:39 PM
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Bill C, ask your advisor this:
Ask him if he makes the majority of his income from being an "advisor" or an investor. If he makes the majority of his money from being an "advisor", or whatever it is he does for a "job", find a new advisor. Why would you take advice on investing from anyone but a professional investor?
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#32
05-08-2005, 11:04 AM
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Re: Bill C, ask your advisor this:
I don't necessarily disagree with you.
But here's the problem: Only about 10% max of traders make a living... And about same 10% of "money managers" OUTPERFORM the market by say 5% or more. The other 90% are Pretenders... And their opinion is of no value. Most are simply "Securities Industry Operatives"... Using a large variety of titles and methods... To TAKE YOUR MONEY. Never, ever forget... There is only one reason for Securities Industry to exist... And that is to transfer wealth... From the Public to the Securities Industry. The previous statement often throws people... Since most people are brainwashed... By a lifetime of advetisement carpet bombing... To believe that the Securities Industry is there to "help" them. Bwa-ha-ha-ha-ha-ha. Anyway... I have run a very profitable small hedge fund for 10 years... And I can't be bothered giving people advice... Because everybody is so f***ing brainwashed. Only people who think completely outside the box... Can outperform... Whether trading or investing. rm+ [img]/images/graemlins/cool.gif[/img] [img]/images/graemlins/cool.gif[/img] [img]/images/graemlins/cool.gif[/img]
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#33
05-09-2005, 11:15 AM
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Re: Bill C, ask your advisor this:
RedManPlus, You have asserted your supreme expertise a number of times in this thread. And you have made sweeping criticisms and generalizations. Can you possibly become more insulting or condescending?
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#34
05-09-2005, 12:28 PM
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Re: Bill C, ask your advisor this:
It would be hard to be more condescending and arrogant. He's posted stuff that's just wrong and I'm sure I'll get a flame here from him but once that's pointed out I'll just ignore his posts and move on. One of the great things about the market and poker for that matter is that one doesn't really have to justify anything but the bottom line for the most part.
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#35
05-09-2005, 12:44 PM
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Re: Bill C, Better advisor questions:
When an advisor recommends any type of trade ask the following questions:
1. How did you come about this advice that you are giving to me? Find out if the advice/trade is basically just the firm advice being pushed on the salesforce. 2. Why is this a good deal/investment? Have your advisor explain the rationale behind the trade. You'd be amazed how many brokers/advisors have no clue in the underlying fundamentals of the investment. Ask things like forward PE ratios vs. the industry. Check the chart - are you buying at a high or low point? My mother's advisor once put her in Citigroup at the absolute high point in a cyclical stock. 3. Is this investment right for me? I've seen investors chase high-yield bonds not realizing that if interest rates go up they could lose principal. 4. Treat you financial advisor like a car saleman. Most people have no idea how you become an advisor - I'll bet that most people think you have to graduate from college to become a broker - wrong!!! Most people think that passing the Series 7 prepares you to give good financial advice - wrong again. In general, most people know more about their cars than the investments in their portfolio.
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#36
05-09-2005, 06:32 PM
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Re: How to calculate EV of this proposed investment?
[ QUOTE ]
FYI - GM is too big to fail, similar to Chrysler, the U.S. gov't would never let GM declare bankruptcy - the ripple effect through the U.S. economy would be severe - can you imagine GM saying to all its suppliers - sorry I can't pay!!! Bankruptcy for everyone!!! [/ QUOTE ] Filing for bankruptcy is done to ensure that all the suppliers can be paid. As a previous poster noted bankruptcy just eliminates the fiction that the common stock is worth something, and transfers all ownership to GM's debtors. It also allows management to get rid of much of it's pension and healthcare obligations, and hopefully right the company so it can return to making cars profitably. There is no need for government intervention. In fact you can argue with U.S. labor costing $100 per hour in salary, overtime, benefits and pension obligations that a quick bankruptcy would be very good for our economy. Uneducated blue collar auto workers would have to get by on, say $40 per hour, but at least they'd still have jobs. And more cars would be made in Detroit, benefiting everyone.
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#38
05-09-2005, 10:29 PM
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Re: How to calculate EV of this proposed investment?
[ QUOTE ]
Filing for bankruptcy is done to ensure that all the suppliers can be paid. As a previous poster noted bankruptcy just eliminates the fiction that the common stock is worth something, and transfers all ownership to GM's debtors. It also allows management to get rid of much of it's pension and healthcare obligations, and hopefully right the company so it can return to making cars profitably. [/ QUOTE ] The all bankruptcy-getting-rid-of-pension-obligations doesn't seem to working for United. Then again, my bk law knowledge is somewhat less than mediocre.
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#39
05-10-2005, 12:24 AM
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Re: How to calculate EV of this proposed investment?
[ QUOTE ]
The all bankruptcy-getting-rid-of-pension-obligations doesn't seem to working for United. Then again, my bk law knowledge is somewhat less than mediocre. [/ QUOTE ] The BK judge will eliminate United's pensions this week. Of course this won't fix their business model, but it gives them some breathing room to figure things out.
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