Wall Street propaganda says you need a broker to help with investment decisions.
Doctors tell us you need them to help treat with serious diseases like cancer.
And the biggest lie, "I'm from the government and I'm here to help you".
We'll stick with the first one today.
If brokers were so smart why aren't they all rich? It is because Wall Street does not want them to think for themselves.
When a person qualifies for a license as a broker and goes to work for one of the brokerage houses he is given 2 manuals.
The first book contains all the rules and regulations of the Securities and Exchange Commission.
He probably won't look at that one again.
The second becomes his daily Bible.
This is the one that guides him in all the details on how to get investors to open an account with his company.
There is no third manual on how to trade profitably or how to protect customers investments when the market declines.
Investors are brainwashed into believing that brokers know all about everything financial.
They don't.
One of the great myths of Wall Street is the investor must be fully invested at all times.
There are periods when cash is the best position.
Has anyone ever heard a broker say,"Cash is a position"? Not in this lifetime.
When an investor steps back and looks at a long term chart of any major stock average such as the Dow Jones Industrial Average he will clearly see there are periods when he should have been in a money market fund.
If a broker has 2 brain cells to rub together he should have his clients out of the market until it starts back up.
Brokers have been taught it can't be done.
Hogwash.
It is not difficult.
Common sense will tell investors there is a method, but they (and the broker and financial planners too) have been brainwashed to believe there isn't.
Don't talk to "Chuck"; he doesn't want you to know.
Brokerage companies don't care if you lose money.
They don't make any profit if the investor is in a money market account.