Watching UBS advertising on CNBC while the caption on the tape under the ad announces UBS having to take a $19,000,000,000 write-down shows the irony of how Wall Street operates. Do as we say, not as we do is the mantra.
UBS blows out their hedge fund customers, kicks their Chairman out the door and wants to manage your money. Just another clue that they are far more concerned about their income than an investors outcome.
Retired CEO of CHIPPEWA PARTNERS, Native American Advisors, Inc., now managing the Parisian Family Office. A White Earth Chippewa, raised conservative, growing up in the poorest county in the U.S. on the Pine Ridge Indian Reservation, he began a Wall Street career in 1982. Always been, will always be, an optimist. In a world on a dopamine binge, this is his take on life from Ghost Ranch in MT, Pamelot, his TN farm or their home in San Jose del Cabo, Mexico.
Tuesday, April 01, 2008
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