Manages Parisian Family Office. Began Wall Street, 82. Founded investment firm, Native American Advisors. Member, White Earth Chippewa Tribe. Was NYSE/FINRA arb. Conservative. Raised on Native reservations. Pureblood, clot-shot free. In a world elevated on a tech-driven dopamine binge, he trades from Ghost Ranch on the Yellowstone River in MT, his TN farm, Pamelot or CASA TULE', his winter camp in Los Cabos, Mexico. Always been, and will always be, an optimist.

Thursday, September 13, 2012

Phil Purcell, old Morgan Stanley

Talking with the zombies on CNBC this morning he mentioned that half of a trillion dollars came out of Morgan Stanley retail accounts and went into fixed income over the last year or two. 

Think of that.     Long term, the survival rate for anyone in fixed income assets  will be near zero.

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