This morning in one of the three newspapers I read every morning there was a full page ad from a major Wall Street brokerage house about how wonderful they are at managing risk.
That same newspaper has been covering the carnage inflicted on investors in that firms two hedge funds over the past month. In fact, the brokerage firm tossed in over $3,000,000,000 of their own to keep one of the funds afloat.
The other fund they let crash and burn. Much to the detriment of their investor clients.
When Wall Street talks folks, grab your wallets.
As salesmen, they aren't worried about your outcome, only their income.
And you can take that to the bank.
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