Exposing Wall Street Marketing BS - 128

Your Money, Your Wealth

Realestate, Income, Investing, Personalfinance, 401k, Rothconversion, Retirement, Education, Taxes, Socialsecurity, Personalfinances, Finance, Retirementplanning, Investments, Stocks, Business, Roth, Fiduciary, Ira

2.3 • 681 Ratings

🗓️ 21 August 2017

⏱️ 60 minutes

🔗️ Recording | iTunes | RSS

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Summary

BAM Alliance Director of Research and author Larry Swedroe exposes what he calls "Wall Street marketing BS" about active management, dollar cost averaging - which he says is a dumb strategy - and more. Plus, 5 Mistakes to Avoid in Retirement, an update on the Department of Labor Fiduciary Rule, and… Pikachu eggs.

Transcript

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0:00.0	We don't need that many active managers to get prices set correctly, or at least the best estimate of the right price.
0:08.2	We certainly don't need 8,000 mutual funds and 10,000 hedge funds to do it.
0:13.9	Maybe we could get by with 10% or less so.
0:17.5	90% of the industry could certainly disappear, and investors would certainly be far better off.
0:23.6	Bam Alliance Director of Research and author Larry Swedro is on fire today on Your Money, Your Wealth,
0:29.6	exposing what he calls the never-ending stream of marketing BS from Wall Street,
0:34.6	about active management, why he thinks dollar cost averaging is a dumb strategy,
0:39.6	why 90% of the industry could go away and more.
0:43.3	YOW!
0:44.1	Also, Joe and Big Al discuss five mistakes to avoid in retirement and the latest on the DOL
0:49.2	fiduciary rule.
0:50.6	Now, here are Joe Anderson CFP and Big Al Clopine's CPA.
0:56.4	So, I'm just going to get this out of the way right now because I don't want to talk about it.
1:00.2	But the DOL, because we, this show is all about information.
1:07.1	People turn to your money or wealth for breaking news.
1:12.4	So let's explain.
1:13.2	Department of Labor.
1:14.1	Yeah, the DOL seeks 18-month delay on fiduciary role.
1:18.0	18-month.
1:18.7	18-month, a couple years.
1:20.0	So we've had this thing where the advisors, an advisor who's supposed to help you and me, whoever, with retirement plans, is supposed to be a fiduciary.
1:29.8	And now there's been a lot of fighting, I guess, over that ruling.
	...

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