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Brain Snappers and Other Wall Street Nonsense
The last time you spoke with your broker did he use any of the following words? Diversification,Price-to-earnings ratios, discretionary trading,lifting a leg (he's talking to you not yourdog), leverage, divergence, fee-basedcompensation, escalator clause, tactical assetallocation and other mesmerizing words to placeyou in stupefying shock.
Brokers do that to let you know that you don't know anything about the market and you mustallow them to make decisions for you. You don'tknow the language. You are just too dumb.Another mushroom.
Wadda ya' mean mushroom? Didn't you know? Most customers are considered mushrooms. A mushroomis grown in the dark and fed horse manure. Nowyou understand why they treat you that way.
Then try to get him to explain commissionstructures of mutual funds. Oh, you're notallowed to ask that. You might want to read page35 in the January 31, 2005 issue of Newsweekmagazine for an excellent breakdown of this WallStreet scam. Maybe you better not. You will getmad at your broker.
Another one of those big words they don't wantto discuss is redemption fees. This is an extracharge of as much as 2% of the amount that isdeducted from your check if you sell within acertain period of time. Brokerage companies tellyou it is to discourage frequent short-termtrading which adds to their cost of doingbusiness and increases the expenses that arecharged to you every year. Having owned abrokerage company I can tell you this is more ofthat brown stuff they feed to the mushrooms.
The reason for redemption fees is to discourageyou from selling. You might take money out ofyour account and that must be restricted inevery way possible.
Some of the biggest words are associated withthose special limited partnerships. These aredefinitely brain twisters. You can get these inreal estate, hospital construction, oil and gaspipe lines and the most confusing one of all istechnology. And they are all guaranteed. Thatword I understand, but be sure you read the fineprint to see what is guaranteed. You rememberthe old one that they give it to you in the bigprint and take it away in the fine print.
How about placing a limit bid on a secondarydistribution of a special claim on residualequity certificates? You didn't understand that? Believe me you don't want to.
When you are solicited by your broker, financialplanner or anyone to buy any equity you mustclearly understand what you are buying.
If you don't understand it don't buy it.
Al Thomas' book, "If It Doesn't Go Up, Don't Buy It!" has helped thousands of people make moneyand keep their profits with his simple 2-step method. Read the first chapter at http://www.mutualfundmagic.com and discover why he's the man that Wall Street doesnot want you to know.
Related Investing News and Articles From ezinearticles.com
If you have been following the news then you probably know that we are in an economic crisis of global proportions. Banks are collapsing, the housing market is in a bad way, and the economy is in a bad state.
You have $1 million that you want to invest, but you're not quite sure how you're going to do that. You don't want to lose everything, but you really want that money to grow. You want that $1 million to turn into $2 million and so on.
When attempting to compound money, the key is not spending your profits. This is a problem that occurs when individuals are trying to make their money grow for them. They simply cannot seem to hang onto their profits.
Are you worried about making the next house payment? Afraid the car is going to be repossessed? You are home with the kids, how can you possible get a job, a baby sitter along with the expense of going to work will take more money than you could possibly make.
Do you want to know where to invest money? If you do, what is something that is important to you? What is your reason for investing? You see, everyone has a reason to invest. They either want to make an income or they want to save for retirement. It is entirely up to you. Unfortunately, not everyone is aware of what they want.
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In less than four years, the price of oil has risen about 300%, or over $50 a barrel. The Light Crude Continuous Contract (of oil futures) hit an all-time high at $67.80 a barrel Friday, and closed the week at $67.40 a barrel. Persistently high oil prices will eventually slow economic growth, which in turn will cause oil prices to fall, ceritus paribus.
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Who is the SEC and why should I ask them anything? The Securities and Exchange Commission in Washington, DC is the government bureau that regulates the securities industry. They make the regulations that all stock exchange listed companies, brokerage houses and mutual funds must follow.
Asset Allocation: Critical to Your Investment Success
Asset allocation is a critical component of investing success. Both research and academic studies show asset allocation to be single most significant factor in determining your financial goals. Allocation influences both the total long-term return and risk of your investment portfolio. Other factors such as security selection and market timing account for a very small percentage of your investment returns. Unfortunately, the most important decision to achieving financial success is also the least understood.