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Tuesday, August 09, 2011

Just wonderin', is all
Posted by Jill | 5:16 AM
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Blogger Pangolin said...
The people who sell into a stock market slump? Yep. It turns out that investment managers do no better on average than a chimp given a dart and a list of stocks to throw it at.

The stock market is nothing but a casino with insiders skimming the take off of the chumps. The brokers get richer, the bankers get richer, the investors get fleeced.

Anonymous Ted said...
An "honest" casino has an advantage of maybe 3-5% and the players sometime win. Wall Street is no _honest_ casino since all the games are rigged and the players -- you and me -- _can't_ win. So I have to wonder about the "gaming" aspect. [Always loved the way they managed to get rid of the unappealing "b" and "l" there.]

But everything else you say is dead on!!

Blogger Pangolin said...
Ted_ Good point.

My favorite bit of Wall Street foolishness it the way the Dow gets to toss it's bad performers off the list and pick up advancing stocks and still pretend the index is valid over time.

What a load of hooey. They get to vanish non-performers and still claim that their index is rising?

Not if you use real money it isn't. Investors have to pay for the losses those dropping stocks represent without getting magical funds transfers to buy new stocks added to Dow's list.

It's a scam.