TRUTH #3: Wirehouses and discount on-line brokerage firms WANT you to believe you can manage your own money. That keeps you speculating and makes them RICH. They have great marketing commercials and online software to convince you that you can do it. They just want your deposits. Even the most intelligent investor with the best intentions and lots of time is likely to ultimately fail because of emotions, instincts, and propaganda. The proof is in the stats. Don’t fall prey. If you want real answers and no propaganda then…
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to find out more…
Can You Manage Your Own Money?
You Don't Know What You Don't Know
TRUTH #2: All that you know is what the brokerage community or financial press wants you to know. They have trained you to accept their version of reality over the span of your entire life. There is a complete body of investing knowledge developed in the halls of academia. Most people do not even know this it exists. This is the real wisdom you need to create wealth and abundance.
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Public Enemy Number One: The Media
As promised, over the next few months I am going to lay out the real truth about the financial industry, investing, and your hard earned money. Here we go!
Truth 1: The Real Truth is…Almost Nobody Wants You To Know the Truth.
The financial industry and the financial press have a huge monetary interest in convincing investors that there is little or no difference between speculating and investing. They perpetuate the lie that by forecasting the future you can stock pick, market time, or pick future winning managers. If you don’t believe this works, they are out of business.
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Keeping it real…
Mike
The Insider's Look At The Financial Industry – The 7 Lies
Whether you have worked with a large brokerage firm for financial planning or not, all of us are fed a steady diet of investing lies I am going to reveal to you. Most of these are lies of omission. The underlying message is that by using brilliant and knowledgeable experts and money managers, it is not only possible, but likely, that you would consistently and predictably pick the best stocks and time the market.
I was taught this lie in countless seminars, presentations, brochures, conventions, mutual fund pitches, conference calls, keynote speakers, book, magazines…you get the picture. The industry propaganda has brainwashed all of us to believe really smart experts would, over time, make investors rich.
The truth is…you don’t have to believe any of the lies to be a successful investor.
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and follow with me…
- Lie Number One: Stock Picking Works – “We know which stocks you should own to get the above average returns”
- Lie Number Two: Timing the Market Works – “We have experts who can accurately predict market movements”
- Lie Number Three: Our Research Works – “If you trust us and buy and sell based on our analysis you will beat the market”
- Lie Number Four: Track-record Investing Works – “We have expert money managers who, based upon past performance, have a better than average chance of beating the market going forward”
- Lie Number Five: Commissions Work – We always put your best interest first. We work for you”
- Lie Number Six: Forecasting Works – “We know what is likely to happen next, and you can use that to beat the market”
- Lie Number Seven: Market’s Don’t Work – “We know what the correct price of a stock or bond should be, and we can buy mispriced stocks so you can make a big profit”
Over the next few months I will reveal all the industry TRUTHS and what you can do to become a very successful investor!
Let’s go for the ride…
Financial Magazine Covers & Your Money
The media panders to the public with magazine covers that titillate and tantalize the human psyche with a voyeuristic rush. With little or no regard to the investing decisions and behaviors their financial “pornography” will stimulate, they obscenely hook into the human instincts of fear and greed. These contemptible acts are made al the more deplorable as these abuses are nakedly paraded in front of the prurient investor as reliable analysis.
The drivel that Wall Street so profusely spews at the retail investor creates the unfair and dishonest illusion that if you study their research, you will surely achieve superior returns. The problems and secrets that large broker dealers have fought so diligently to hide are now coming to light. The financial community’s reputation has been greatly tarnished by scandals, abuses and conflicts of interest.
Mark Twain said, “There are three kinds of lies: lies, damn lies, and statistics.”
The truth is…You don’t have to believe any of the lies to be a successful investor.
I would like to hear your comments.
To Your Success!
Dirty, Filthy Lies and 101 Truths About Money and Investing
Over the next few months I am going to share with you some of the Dirty, Filthy Lies my Broker Taught Me. More importantly I am going to share with you 101 Truths About Money and Investing. The BIG question every investor should honestly ask themselves:
Is Your Broker Lying To You?
I would love to hear your feedback and comments about some of the real truths that go on inside the financial services and brokerage industry. Whether you believe them or not is completely up to you – but they are the truth. Let me start right here…
You know that you have been lied to if you believe that…
- Stock picking, market timing or track-record investing is anything other than rank speculation and reckless gambling with your money.
- You can get rich from false promises and hype of the latest trend like the new tecknnology paradigm of the late 1990′s.
- Owning a bunch of “stuff” makes you diversified.
- Mutual fund managers have special research powers and analytical tools to pick the best stocks for you.
- Brokerage commissions are in your best interest.
- Risk of losing money is something that only happens to other people.
- You are diversified, and you don’t realize that you could lose more money than you ever imagined.
- The broker works for you.
- Economic forecasts and predictions hold the key to growing your wealth.
- Activity in your account means control.
The good news is that the madness can stop. You don’t have to believe any of these things to have a successful investment experience.
To Your Success!