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  • Bmac
    replied
    I've been a DIY investor for years, but if I'm being honest, with $700M I would likely want boutique wealth management. 0.57% seems reasonable for that level of wealth and associated complexity.

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  • Kennyt7
    replied
    Nothing can be easier than stock/bond investing Read Millionaire Teacher as a start
    This is 7th grade material

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  • mkintx
    replied


    One of my distinct memories from childhood is watching my Dad scour through the back pages of the WSJ with his magnifying glass every morning and underlining some of the stuff he owned.
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    Yes, and I remember when we had a finance project in school and had to pick a few stocks to "buy" and follow.  I checked the paper every day to see how my "investments" were doing.  If only I had actually bought Disney back then, lol!

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  • Crazyroadtodublin
    replied







    I was just finished listening to “the millionaire next door” and it’s amazing how much the internet has changed everything.   I can’t even imagine a world where you have to go to your local stock broker to pick out individual stocks to invest in and then track them in the newspaper.    If you can’t look something up right away, I could easily see how people could be swindled by cold callers promoting “hot stocks”.    I’m sure that some of the brokers were calling with actual legitimate deals.
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    One of my distinct memories from childhood is watching my Dad scour through the back pages of the WSJ with his magnifying glass every morning and underlining some of the stuff he owned.  Not to mention all the hours watching CNBC.  I think the second investing book I read before I found this web site was a Peter Lynch book.  That all made investing seem like rocket science and was why I put nothing in the stock market until my mid-20’s.  Fortunately that was great timing since it was right after the Great Recession.
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    I smiled when I read this.  Around 1979, for our sixth grade field trip, I forced my class to go to a Merrill Lynch.  We had a bake sale and with the proceeds we bought one share of IBM and one share of Giant Yellow Knife (A Canadian gold mining company).  I still remember the orange yellow ticker with the stocks streaming by in 1/2 and 1/4 increments.  At 18, I walked into a mutual fund company and a very nice lady took pity on me and explained dollar cost averaging.  I would bring my tip money from my job bussing tables once a month and she would apply it.  There was a minimum of 25 dollars which is usually all I had to invest.  There was no minimum to open an account.  I wonder with 25 dollars if I could even get them to answer the phone today.

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  • Tim
    replied


    One of my distinct memories from childhood is watching my Dad scour through the back pages of the WSJ with his magnifying glass every morning and underlining some of the stuff he owned. Not to mention all the hours watching CNBC.
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    Commissions were "earned" on telephone orders. Round lots (100 shares were cheaper) and Odd lots were the currency. The price per share greatly impacted the price.

    Do you want a graph of the price trend? Look up the WJS that was kept and write down the numbers, get a piece of graph paper and get to work. Presto! In about an hour you have a thirty day price trend, for one stock in the DJIA. The point is, fundamental analysis of quarterly financials was about the best information that was possible. DIY was analytically impossible. Can you imagine trying to analyze 500 stocks and keep current? If you had money to invest, you used a broker. Peter Lynch made a fortune by intelligently anayzing fundamentals and understanding value investing in companies. Peter Lynch is still around, he just stepped away from the game. He manages a portfolio for a non-profit he is involved with. The cost of individual analysis is huge. The "edge" has disappeared substantially. The ability to identify potential winners and avoid losers was the "edge". Data was not available. It can still be done, but now performance is less than average because of how cheaply data is available. The "edge" now is identifying the "business" opportunity that currently doesn't exist and reaping the benefits. Much more difficult.

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  • Lithium
    replied




    I was just finished listening to “the millionaire next door” and it’s amazing how much the internet has changed everything.   I can’t even imagine a world where you have to go to your local stock broker to pick out individual stocks to invest in and then track them in the newspaper.    If you can’t look something up right away, I could easily see how people could be swindled by cold callers promoting “hot stocks”.    I’m sure that some of the brokers were calling with actual legitimate deals.
    Click to expand...


    One of my distinct memories from childhood is watching my Dad scour through the back pages of the WSJ with his magnifying glass every morning and underlining some of the stuff he owned.  Not to mention all the hours watching CNBC.  I think the second investing book I read before I found this web site was a Peter Lynch book.  That all made investing seem like rocket science and was why I put nothing in the stock market until my mid-20's.  Fortunately that was great timing since it was right after the Great Recession.

    Leave a comment:


  • nephron
    replied
    I was just finished listening to "the millionaire next door" and it's amazing how much the internet has changed everything.   I can't even imagine a world where you have to go to your local stock broker to pick out individual stocks to invest in and then track them in the newspaper.    If you can't look something up right away, I could easily see how people could be swindled by cold callers promoting "hot stocks".    I'm sure that some of the brokers were calling with actual legitimate deals.

    Leave a comment:


  • Crazyroadtodublin
    replied
    And then some

     

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  • Zaphod
    replied




    What I find interesting here is that we often complain in medicine about our fees being cut, but that does not compare to what is happening currently happening in the finance industry.  These guys are getting decimated.  I would not use them because they would not let me do what I do, but I am sure the value for these services can be justified.
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    Are you still doing similar stuff now? The VRP has been decimated though maybe in individual stocks theres some juice, but its been rough for sellers, and not bad for buyers especially if gamma lately.

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  • HikingDO
    replied







    What I find interesting here is that we often complain in medicine about our fees being cut, but that does not compare to what is happening currently happening in the finance industry.  These guys are getting decimated.  I would not use them because they would not let me do what I do, but I am sure the value for these services can be justified.
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    It’s a lot easier to be your own financial advisor than be your own doctor.
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    That's not what Dr. Google says.

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  • CordMcNally
    replied




    What I find interesting here is that we often complain in medicine about our fees being cut, but that does not compare to what is happening currently happening in the finance industry.  These guys are getting decimated.  I would not use them because they would not let me do what I do, but I am sure the value for these services can be justified.
    Click to expand...


    It's a lot easier to be your own financial advisor than be your own doctor.

    Leave a comment:


  • Crazyroadtodublin
    replied
    What I find interesting here is that we often complain in medicine about our fees being cut, but that does not compare to what is happening currently happening in the finance industry.  These guys are getting decimated.  I would not use them because they would not let me do what I do, but I am sure the value for these services can be justified.

    Leave a comment:


  • uteomfs
    replied
    Im all about being a DIY with brokerage, IRA and 401k's for the time being, its easy, I have very little money. I'm also young, have many years to make up for huge losses and have no intricate estate and tax concerns.  I hope to one day have enough money to hire someone who can help navigate financial complexities that I know nothing about. The dogma of indexing under all circumstances is ridiculous. But then again, some on here may know more than the Rokefellers.

    Leave a comment:


  • Tim
    replied
    The same can be said for a brilliant research physician that discovers a successful cure for cancer or any brilliant idea that has huge value (an asset has current value and future value).
    The question is, how best to preserve it and optimize the performance. Sometimes it’s best to hire talent to do it for you. Basically, a Family Office is the corporate headquarters. Pay a CEO and you choose well, fire them, or attempt to DIY. Family Offices come in many flavors. Stan Druckenmiller runs his own. Others outsource only portions. Face it, it’s “overhead”. It’s all negotiable. Do it yourself, in house, or hire someone to do it that has better skills. It’s a Family Business (Office). No right or wrong answer.

    Leave a comment:


  • HumbleInvestor
    replied
    One of the article I read suggested family offices look for investment opportunities beyond public markets in the PE and direct investment areas.

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