Posts Tagged ‘industry’

The investment-advisory industry is a huge, multi-billion dollar business based on hard work, clever thinking, and sophisticated algorithms….  [T]he unfortunate truth is that the financial establishment rarely looks beyond stocks and bonds.  And if you think about it, why would it want to?  It makes its money by ushering you from one ‘hot’ stock or ‘amazing’ fund to the next….  Because they know that you have heard that ‘diversification of assets’ is good, financial advisers give you the illusion of diversification by filling your stock portfolio with businesses that are ‘diversified’….  But at the end of the day, it’s all invested in stocks or stock derivatives.

Asset allocation is the process by which you spread your wealth across different sorts of investments….  Over the years, I have made hundreds of individual financial decisions….  I could see very clearly that it was not particular buy/sell decisions that accounted for this good fortune.  It was the general decisions about asset allocation that paid off.” -Mark Ford

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“Industry, perseverance, and frugality make fortune yield.” -Benjamin Franklin

“The financial industry does not exist because it enriches its clients; the clients provide all of the wealth required to maintain the financial industry.” –Porter Stansbury

Poor Money

Posted: February 7, 2013 in Thought for the Day
Tags: , , , , , ,

“You cannot spend money in luxury without doing good to the poor.  Nay, you do more good to them by spending in luxury, than by giving it; for by spending it in luxury, you make them exert industry, whereas by giving it, you keep them idle.” –Samuel Johnson