True, most likely a position in the $millions.
Igy
True, most likely a position in the $millions.
Igy
justthefacts wrote:
Seems to me staying the course is the best approach. What do you think Ghost of Igloi? Flagpole? Anyone else savvy to the workings of the market?
Stay the course is pretty much ALWAYS the way to go. Want to play around with individual stocks with a small portion of your portfolio (5% or $100,000 whichever is LESS), then go ahead. Beyond that, all should be in diversified mutual funds for the long haul. If you EVER get up to enough money so that if you take just 4% each year that you would be able to live on that the way you want the rest of your life, then you should feel free to be entirely out of stocks if you want.
For people who are just on the edge of having what they need for retirement, going more conservative the last 5 years of working life is a good idea.
Ghost of Igloi wrote:
True, most likely a position in the $millions.
Igy
It can be done for an exchange of $250,000 or greater.
OK, I imagine each fund has a set of rules that would apply.
Ghost of Igloi wrote:
OK, I imagine each fund has a set of rules that would apply.
Read the prospectus. It's outlined there.
I assumed as much....
Ghost of Igloi wrote:
Might,
You keep bringing that up because you were the Faker stealing my handle. What's wrong?
Igy
Classic diversion. You're not fooling anyone.
Yes, I am the New Igy, but you are still a Faker.
Igy
Anyway, my buy and sell ETF each morning based on markets in Europe got the kibosh due to this T-3 BS.
Cost me about a grand today as I could not sell my ETF this am as planned based on what was going on in European markets.
This kills my little game.
I could do it were I willing to open a margin account and fork over $$ to the broker -- of if I used mutual funds instead of ETS -- in which case I would have to fork over dough to the broker with every buy/sell.
What was it Johnny Rotten famously said? Ever get the feeling you're being cheated?
Guess,
One of the problems you would have on the mutual fund is short term trading rules, this especially true of international funds. There was a case a decade ago of a union in Boston that was allowed to trade in and out of a Putnam international fund. The union would put in a trade right before the close of the international markets when the market direction was known, last ten minutes or so. Union was making a killing while the buy and hold investors were disadvantaged. So, I think anyway you look at it your game is limited. Besides, if it was that easy every retail investor would play the same game. The big institutional money is swimming in that same pond with index options and currency futures. You may win at the game for awhile but snake eyes will eventually come up.
Igy
Guess,
Here is a story on the Putnam case, some of the facts are a little different from my recollection. The net result of the case was a variety of industry restrictions on short term mutual fund trading.
http://www.wsj.com/articles/SB106729647249018300
Igy
Do you do any work, or do you just surf and troll the internet all day?
Nope, just know a lot about the markets.
Serious,
Did you know that the non-GAAP earnings for INTC was 59 cents a share, but the GAAP was only 27 cents, roughly half the GAAP earnings for the same quarter in 2015. And yet we hear how good the earnings season has been. From today UNP revenue $4.430 millions versus $5.068 in 2015. EPS was $1.17 down from $1.38.
Igy
I was referring to the fact that you post here constantly. There's no question you've learned a lot.
OK. Not buying stocks or bonds at this level just watching. Enjoy writing about the market moves. Keeps me engaged. Most people have already taken a couple weeks vacation. Not me working every day and some Saturdays.
Igy
I thought you had clients.
You're cherry picking again. There are always winners and losers. Your cup is half empty.
Ernie,
We'll see where we are at the end of the week. Last week more losers than winners, 16 of 36 beat on lowered GAAP earnings.
Igy
Serious,
I am nearing retirement, so my schedule is different than most. Twenty years ago the business was quit a bit different. On the phone buying and selling stocks. In early before the market, hanging on to individual stock moves. Listening to the sqwak box, a little speaker hooked to your terminal with a direct link to the trading desk. That day-to-day stock trading has moved to the online brokerage platforms. At that time a decent book was $20 million and is easily triple that now. The wirehouse business is more asset allocation using open platforms in a fee based structure. Financial planning for larger accounts and assets, smaller number of households. Fees on asset management or ROA (Return On Assets) will continue to fall. I can imagine in another twenty years it will be somewhat unrecognizable from when I started. Robo-advisor, ETF, alternatives have been growing trends. The job is somewhat boring until you have really big moves down. People panic at that point. What is the old adage, "the market moves up on a staircase, but goes down in an elevator." The elevator is approaching the penthouse with a full car headed next to the basement.
Igy