Fund managers and their product touts (who go by
the hilarious nomenclature of Financial Advisors)
expect and get a preference shareholding in your
investments without having to contribute any
capital. You take all the risks and whether
the fund pays you a dividend or not, they
get paid a regular percentage of your
capital and when you complain the
usual response is "Hang in there.
You wouldn't want to miss out
on the Big Rise that's coming."
While you dine on thin air, fund managers and their
sales touts have lunch at a fancy restaurant and
plan their next overseas holiday, on your fees.
NOT THIS LITTLE BLACK DUCK! Long ago, my wife
and I had a Pow Wow. I would charge her 2.5% of
her capital to advise her what investments to put
money into (or take it out from) and she would
charge me 2.5% of my capital for similar advice.
That way we (not them) had trips like this:
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- rogue planners: senate demands answers
rogue planners: senate demands answers, page-2
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