Below is the only financial disclaimer you’ll ever need, it applies to every product, service or transaction you’ll ever be involved with. You’re welcome. – JB
Dear Reasonably Intelligent Human:
From this moment forward, assume that everything you ever hear a financial professional say is in some way designed to sell something to you. Every written word, oral communication, media appearance, email, letter, phone call or text is in some way, directly or indirectly, a solicitation for some kind of product or service. And if it isn’t, well at least you erred on the side of caution.
No one is your friend or doing you a favor. No one is giving you free advice or trying to help you for nothing. Even those with your best interests at heart are still trying to make money as a result of working for you or with you. That’s how the world works. Everyone is trying to make money to feed their family/drug addiction.
Read the fine print. Read the bold print. Ask questions. Don’t say yes to things you don’t need, don’t do business with people you don’t trust, don’t buy things you can’t understand.
Assume that most people in finance are good, some are scumbags and all of them are inherently flawed human beings and biased business people trying to sway you and your capital in their direction. There is nothing wrong with this, it just is. It will never change, even if Dodd and Frank and Sarbanes and Oxley holed up in Hawaii, had a vicious foursome as the waves of the Pacific lapped against the shore, produced a love child and crowned it Emperor of All Things Financial.
The truth is, they could pass laws against 100 ways to fuck you over on a Monday and by Tuesday afternoon someone will have come up with the 101st. Lawmakers and regulators will never be able to see far enough ahead or move quickly enough to match the cunning of the crooks.
As a rule of thumb, anytime someone on Wall Street offers you something for cheap you probably don’t want it. Anytime someone offers you something for free, you definitely don’t.
If you can’t understand this, you will probably lose a lot of money. You may even deserve to.
That’s life, that’s business. You don’t like it? Move to the Arctic Circle and marry a fucking walrus.
[…]we like to honor numerous other web internet sites around the web, even if they arent linked to us, by linking to them. Beneath are some webpages really worth checking out[…]
[…]we like to honor several other internet sites around the web, even if they arent linked to us, by linking to them. Underneath are some webpages really worth checking out[…]
I’m a New York City-based financial advisor at Ritholtz Wealth Management LLC. I help people invest and manage portfolios for them. For disclosure information please see here.
Subscribe & Reform
Get a Full Investor Curriculum: Join The Book List
Every month you'll receive 3-4 book suggestions--chosen by hand from more than 1,000 books. You'll also receive an extensive curriculum (books, articles, papers, videos) in PDF form right away.
shipping
[…]Every once inside a though we pick out blogs that we read. Listed beneath would be the most current web-sites that we decide on […]
cooling coils manufacturer
[…]The data talked about within the report are a number of the top obtainable […]
Raskit
[…]The information and facts talked about in the article are some of the top out there […]
Download Free Jeremih Mixtapes
[…]one of our visitors recently encouraged the following website[…]
Download Xxxtentacion Mixtapes
[…]here are some links to web-sites that we link to since we believe they are worth visiting[…]
203k
[…]we like to honor numerous other web internet sites around the web, even if they arent linked to us, by linking to them. Beneath are some webpages really worth checking out[…]
online store
[…]below youll locate the link to some websites that we consider you’ll want to visit[…]
condo
[…]the time to study or visit the subject material or web-sites we have linked to beneath the[…]
how cholesterol levels predict your health
[…]always a large fan of linking to bloggers that I adore but really don’t get lots of link enjoy from[…]
php download script
[…]we like to honor several other internet sites around the web, even if they arent linked to us, by linking to them. Underneath are some webpages really worth checking out[…]
adam and eve
[…]Here is a great Blog You might Locate Exciting that we Encourage You[…]
threesome sex
[…]that would be the end of this write-up. Here you will discover some web pages that we feel youll value, just click the hyperlinks over[…]
invoicing
[…]that may be the finish of this article. Here you will find some web sites that we think you will appreciate, just click the links over[…]
Butt plugs
[…]always a massive fan of linking to bloggers that I love but really don’t get quite a bit of link enjoy from[…]
Dildo
[…]Here are some of the web pages we advise for our visitors[…]