Why Money Managers Are No Good

Reply #5

pacattack05 — Sun, 15 Jul 2007 03:53:28 GMT

Good one...

Sometimes i think the audience is more intelligible than the speaker.

Any system needs to be fluid. If numbers change, then whatever system I use must consistently change. That's just the way it is in my opinion. Nothing stands still for even a single moment.

Reply #4

Coin Toss — Sun, 15 Jul 2007 03:45:45 GMT

pac

One time at a seminar I attended the speaker had been a financial adviser. He said that most all of his clients needed one thing, more money! - not his advice.

Reply #3

pacattack05 — Sun, 15 Jul 2007 03:39:44 GMT

It's actually self explanatory.

If the person is making a living as a consultant teaching people how to manage their money, he wouldn't need the job in the first place.

Think about it. If he or she were truly managing their money to the point where they were satisfied with the results to run on automatic, then why have a job?

I wouldn't need a career. The experience and planning would suffice.

All my ducks would be in a row, and no need to spill my guts to the world, as I have rece... [ More ]

Reply #2

justxploring — Sun, 15 Jul 2007 01:41:06 GMT

I learned the hard way. What I mean is to educate yourself and spend some time studying. Not all money managers are flim-flam men. There are many people who have lots of experience and can offer good advice but only you have the final say on whether or not to take it.

Reply #1

Coin Toss — Sun, 15 Jul 2007 00:27:45 GMT

Anyone who even entertains the thought of entertaining the thought of hitting a jackpt should read this book.

Anyone who entertains the thought of hitting a jackpot and going to Vegas should have to read this book.

Topics include The Gambler's Ruin and Nature's Admonition to Avoid The Dice.

Why Money Managers Are No Good

Coin Toss — Sat, 14 Jul 2007 22:24:43 GMT

From the book: Fortune's Formula

The Untold Story Of The Scientific Betting System That Beat The Casiois And Wall street

by William Poundstone

Why Money Managers Are No Good

William Sharpe was one of the most militant of the Random Walk Cosa Nostra. He would go around asking money managers if they really beat the market. They would ususally huff and say they did: then Shapre would turn prosecuting attorney and grill them over the details. Sharpe subscribed to the view that successf... [ More ]