Is Buy and Hold Wall Streets biggest scam against us? Zach Abraham tells us Episode 958

The Todd Herman Show

Radio America

News, News Commentary, Religion & Spirituality, Society & Culture

4.8 • 1.5K Ratings

🗓️ 14 July 2023

⏱️ 61 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

This is a pretty straight forward question I asked Zach Abraham, but it led to a pretty intense conversation that relates directly to our futures: is “buy-and-hold” Wall Street’s biggest scam against us? Zach didn’t answer with opinion, he answered with math.

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Transcript

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0:00.0	Man, there's so much ground that Zach and I covered today.
0:03.4	We started by talking about the Major League Baseball All-Garce All-Store Game.
0:07.8	Yeah, I know it's baseball, but the reason we did that was to let taxpayers around the
0:12.4	country.
0:13.4	No.
0:14.4	Hey, thank you.
0:15.9	You just paid to temporarily tow a bunch of junk RVs, which are, in fact, meth cooking
0:20.9	and sex traffic and facilities out of the sites of cameras for a week.
0:26.7	You paid for that.
0:29.0	So we want you to be aware of that.
0:31.8	We also talked about a lot of people in the mob that financial industry saying, hey, hey,
0:37.6	remember, buy and hold.
0:40.2	Buy and hold.
0:41.2	I have dear friends who do that, and that's their strategy, and that's their core belief
0:46.1	is investors.
0:48.7	And as money managers, I do not hold with that theory, not in these times, not if you're
0:56.8	near retirement.
0:58.8	Zach and I got as deep into this discussion as we could base off an article that has gone
1:04.8	pretty viral out of zero hedge, calling, buy and hold, the biggest scam of Wall Street.
1:15.8	Zach doesn't necessarily believe it's the biggest scam.
1:19.2	It's very convenient, but he wants people to know this.
1:22.1	When you're managing retirement money, or you can't time markets, we're not trying
	...

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