4 ms·
Most of these look great. I am somewhat skeptical of Rule #8 about not giving anyone signature authority. Maybe he means this in a narrow sense that I don't und
by sulam 9y ago
Most of these look great. I am somewhat skeptical of Rule #8 about not giving anyone signature authority. Maybe he means this in a narrow sense that I don't understand, but when you have your money being managed for you, trades are being made on your behalf, you aren't doing them yourself. This is true from robo-advising all the way up to private banking and family funds.
- snikeris 9y agoHe would argue against having your money managed for you. He wouldn't be against working with an advisor, but he'd want the advisor to explain things to you so that you can execute on your own behalf.
- sulam 9y agoThat'd be fine if I could do the trades my banker does for me, but I can't. I know this isn't a problem most people have, but this advice is unimplementable without costing me real money (I'm sure he would advocate lowering the cost basis, although strangely he doesn't say much about that).