wednesday wranglers, page-173

******* "Buy and holders" are the way brokers become wealthy but not the participants ***********



This is patently wrong, and it only confirms that you can't have possibly been around the stockmarket long enough to have thought through the issues with any rigour.

The only group of players who do not contribute to brokers' wealth are buy and holders. An extreme example of this is say, someone who participated in an IPO such as WOW or CBA and over the years have been content to receive their share of the company's profits. For this type of investor, the market might as well not exist, they have never been near a broker.

The people who actually do contribute to broker's wealth are frequent traders, who attempt to outsmart the market and end up going bust.

And that's a fact, newbie.
Take it from someone who has *really* been around the markets for 30 years.


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