Quote:
Originally Posted by DAVES
Wow. REALITY I did not work for free. Did other readers?
We make money when the clients make money is word SPIN like all advertising . If, the clients balance goes up and they are making one percent, One percent of 10,000 is 100
Assuming a 7% normal market return one percent of 10700 is 107.
Few people understand math. Thought SPIN gains compound. So do losses.
Example 10,000 and you make 10% one year and loose 10% the next year. Many think they are even. 10,000 plus 10%=11000. 11000 less 10%=9900 you are short 100.
Now no commission trades. Again no one works for free. They do not do this because they so love ME that they company spends money and does not charge me. The numbers are so large that a penny of millions of trades is serious money.
Buffetlike has become am adjective and or an adverb. We at least I am not allowed to swim in the same market-pool-where Buffet buys.
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Nobody works for free as a broker! You are right and that’s part of the problem. How many bad brokers out there that still make a great salary but their customers lose their shirts? I bet quite a few. If somebody doesn’t do their job well, they shouldn’t have a job, in any profession.
But with a broker, he will always make his firm money.
I don’t follow about the buffet-pool comment. I bought Apple many times during the last 15 years just as buffet did. I could have bought other companies he invested in.