"The investment business is a giant scam"
 

LOL.

"The investment business is a giant scam. It deletes billions of dollars every year in transaction costs and fees."

-- 2004, Harvard Management CEO Jack Meyer (Harvard Univ's in-house investment arm), in an interview to BusinessWeek.

http://yahoo.businessweek.com/magazi...2/b3914474.htm

It's become one giant sales business.

it's been said you'd make more buying Beer with the money you were going to invest and cash in the aluminum than the stock market. it's all a big circle. money has to be made and spent for the economy to keep going.

You've taken that quote slightly out of contest... I think he meant mutual funds are a scam?

LOL. I guess he meant "money managers" of all kinds and even brokerage firms.

i said it once and ill say it again

invest in your own stuff like that if it flops at least its all your fault

investing in some other stuff you have zero control over you will 99% lose your money, if you feel you are going to be the lucky 1% go play lotto

Hey dumbass retard, do you happen to mean 'context'?

Hmm... what's the Powerball jackpot this week? I feel lucky.

Kind of like the Penis Pill and the Dating Sites that many here promote eh? :(

:thumbsup

stocks are for average people. if you want to be rich you have to be above average.

Q: You've had a great run over the past decade, earning a 15.9% annual return. But recently you've been warning Harvard that you don't expect the good times to persist. Why not?



15.9% returns? :( sounds fucking horrible.

there is other stuff out there!!!

:2 cents: scam is too much of a harsh word

He said scam with regards to the fees and transaction costs of outside managers.

Managers will trade your money all day long - they collect commissions in a variety of different ways. First there is direct, then they receive payment for order flow by dealers. He's right, there are so many uninformed traders out there. The comissions dilute your overall return, and therefore with them included they dont outperform, with them excluded they do, but uninformed traders don't realize the true extent of the management fees and commissions.

Use one of the online places like scott trade, and do your own research.