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I agree with you, I just don't think it's fair that these assholes on wall street can make 4 million dollar bonuses at age 30 for getting lucky with gambling ot
by pyrrhotech 13y ago
I agree with you, I just don't think it's fair that these assholes on wall street can make 4 million dollar bonuses at age 30 for getting lucky with gambling other people's money.
I think it's great for everyone to have the desire for wealth, as long as you are making your money in an honest, value-producing way. I don't think derivatives hedge fund gamblers are honestly earning their pay.
The only thing that can stop them is financial education of the public. The stats show, year after year, that the vast majority of hedge funds lag the market---and get paid massive fees to do so. Someone has to be paying for these bonuses, and that someone is you--if you buy mutual funds or other high-fee actively managed funds.
That's why I boycott even my 401k as there aren't any passive index funds for me to choose.