The Scam is Everything (Part 2)

In my last post I began a slow ramble about how the financial industry strikes me as a scam.

Maybe it doesn’t matter much that financial advisors and fund managers are crooked given that I can trade and invest my own money but few people actually do.  A cursory Google search found this article from 2011, which indicates only 11% of trading volume to be retail.  In some way, shape, or form, this implies that 89% of all trading is done by firms managing other people’s money.

If the financial industry is a scam then it’s a big deal.

My view is not going to be a popular one.

The money and the influence belongs to Wall Street, which has power to direct the media, influence publications, etc.

My words would probably be laughed at, debated, labeled as absurd, and rejected.  My reputation would quickly be tarnished.

Thankfully, I’m not out to win a war of propaganda.  My goal is only to better understand for myself and in so doing, to have greater awareness of what it will take to succeed as a retail trader.

To repeat:  I care about my performance and my results.

Follow me and comment as you wish.