Reading 71, nikuman, and the other

[jay santos]

financial experts of CB talk about how they forecasted a stock or a market correctly always makes me chuckle. Even more funny are the guys that are impressed by them.

[RockyBalboa]

financial experts of CB talk about how they forecasted a stock or a market correctly always makes me chuckle. Even more funny are the guys that are impressed by them.

71 is a smart, respected and extraordinarily wealthy man doing what you laugh at him for.

[jay santos]

71 is a smart, respected and extraordinarily wealthy man doing what you laugh at him for.

I agree. He's one of the most decent guys on CB. And I agree most of his opinions--BYU sports or otherwise. There are many other smart, respected, wealthy men who have done what he does before him and after him. A guy in my ward is a stockbroker, and he's salt of the earth.

But I believe passionately and strongly that their profession is based on a fundamentally false pretense, and basically is a scourge on our society. And when I hear people talk about their stock market accuracy I believe: a. they are ignorant, or b. they are dishonest, and most likely c. they are trying to profit off my misunderstanding of the market, or in the case of the CB'ers d. they're simply bragging but only impressing the ignorant folk.

[Mormon Red Death]

I agree. He's one of the most decent guys on CB. And I agree most of his opinions--BYU sports or otherwise. There are many other smart, respected, wealthy men who have done what he does before him and after him. A guy in my ward is a stockbroker, and he's salt of the earth.

But I believe passionately and strongly that their profession is based on a fundamentally false pretense, and basically is a scourge on our society. And when I hear people talk about their stock market accuracy I believe: a. they are ignorant, or b. they are dishonest, and most likely c. they are trying to profit off my misunderstanding of the market, or in the case of the CB'ers d. they're simply bragging but only impressing the ignorant folk.

So stockbrokers are evil?

[jay santos]

So stockbrokers are evil?

No, but if I became a stockbroker I would be evil because I have further light and knowledge.

[Mormon Red Death]

I think stock brokers and money managers serve an essential part in capitalism. They are cog in the money machine that helps guys like you and me retire comfortably. yeah...no one always beats the market (ok maybe warren buffet) but if brokers are smart and stick to a plan the can make a boat load of cash

[BYU71]

claimed to accurately predict the stock market, unless things like over the next ten years I think the market will be higher than it is now.

As far as my profession goes, it is like any other profession. There are some people very good at it and most are average to below average.

This is just my opinion. The best ones aren't the ones that try to predict short term movements in the market.