Tuesday, Apr 21, 2009
Why you are the best person to manage your own money
MoneyWeek: Why you are the best person to manage your own money
"Just because the economy's not collapsing quite as rapidly as it was, doesn't mean that everything is now just fine. And with the earnings reporting season pretty much upon us, investors are starting to get nervous about just how difficult companies will reveal things are getting."
Posted by damien @ 03:00 PM (619 views) Add Comment
8 Comments
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1. 51ck-6-51x said...
The only problem is I charge myself a 2% annual fee and 20% of any profits ;p
2. paranoia blue said...
:)
Is it possible to take advantage of your financial services?
3. techieman said...
666 how about no fee and 50% profit commission? My pen is at the ready.....
4. 51ck-6-51x said...
techieman - heh - you want me to lose your cash for you? That would really encourage me to gamble with your investment... no ongoing 2% for sitting on cash when it makes sense to, plus a massive incentive to try to make a profit with no recourse from losing apart from the potential of future opportunities :) How much would you like to donate?!
(I'd have suggested the manager take 60% of losses and 40% of profits - that should encourage a sensible approach)
5. matt_the_hat said...
4. 51ck-6-51x - "I'd have suggested the manager take 60% of losses and 40% of profits - that should encourage a sensible approach"
I think the banks would be happy for the deposits
6. 51ck-6-51x said...
matt_the_hat - you'd think so, wouldn't you, but where's the competition needed to expose what banks want in their fees?!
7. Janethor said...
I love this publication and it tends to be right in its investment ideas. Apparently Managed funds only have a 10% chance of doing better than a tracker footsie thingy and they charge loadsa money. Self Trade that's the answer!
8. 51ck-6-51x said...
The number one choice of where to invest one's capital should always be oneself (for example your own business, your own ideas, your own time, your poker bankroll, etc, etc...) it has the biggest potential upside; we seem to forget this here.