Stock Markets Crash Today!!!

[GoodEnuff]

The main reason I left working in the investment industry is the lack of ethics. I firmly believe most of it is being manipulated by the Big Boys who will lie, cheat, and steal and collude with their cohorts. The retail investor (you and me) has no idea what is happening behind the scenes.

An example of this was an investment in a particular company that was rated AAA+ by the credit rating agencies. The auditors published some impressive results. Six months later, the company filed bankruptcy. This was a huge company, one of the largest in that industry. I do not believe the auditors didn't see what was coming. A company like that doesn't go from a AAA+ credit rating to bankrupt in less than six months.

I refuse to participate in this.

 

[MoBeans]

Like they say, you only lost it if you sold your stock. It will come back. Amazon is not going out of business. The stock market is manipulated by rich people for rich people. We just get to play along. I don't think we need to worry about a big crash until banks and Venture Capitalists wake up and realize sinking trillions into AI and it's infrastructure, which has no real return on that investment, is no longer worth it. We are heading towards that bubble bursting but I don't think they have pulled their heads out of the sand quite yet.

 

[seadoug]

The main reason I left working in the investment industry is the lack of ethics. I firmly believe most of it is being manipulated by the Big Boys who will lie, cheat, and steal and collude with their cohorts. The retail investor (you and me) has no idea what is happening behind the scenes.

An example of this was an investment in a particular company that was rated AAA+ by the credit rating agencies. The auditors published some impressive results. Six months later, the company filed bankruptcy. This was a huge company, one of the largest in that industry. I do not believe the auditors didn't see what was coming. A company like that doesn't go from a AAA+ credit rating to bankrupt in less than six months.

I refuse to participate in this.

I appreciate your character.

My father was a financial advisor for many years and he was one of the most honest men I've ever known. Some of the other advisors laughed at him and said he "mostly worked with old ladies". He did have a lot of older clients, but he made sure they were happy and he made good money for them and for himself. He had a gentle, low-key way about him that they appreciated.

When he passed away, I met with HIS advisor. I had sometimes heard my father yelling at his advisor after he retired so I already knew he wasn't happy with his performance. When I met with him, he just seemed like a dishonest jerk who was full of himself, so I looked elsewhere.

I asked around my industry and got great feedback from my co-workers and executives about a particular advisor. I met with him, was impressed, and hired him. He was my advisor for over 20 years until he passed away. He got me through the Great Recession with his knowledge and ability to put things into perspective.

The guy who took over his accounts is also great. I can call him at any time and he picks up. We discuss strategies and he gives me honest feedback. I have no reason not to trust him. Now I'm older and he has a gentle, low-key way about him that I appreciate. Go figure.