IHateMyJob2004
Lifer
- Sep 29, 2004
- 18,665
- 67
- 91
And people tend to forget that those people on Wall Street. Charlie Munger (look him up) said that the talent to reward ratio is not any most lopsided on Wall Street.
Wall Street has gotten exceedingly good at getting themselves in between two parties that want to make a deal while reaping huge ass commissions. Warren Buffett buys companies for billions of dollars. He writes the contract. It is only a few pages long. There is no middle man. Point being, it does not take millions.
Also, mutual funds, etc as a whole are a failure to the typical investor. Fund managers (making hundreds of millions a year in some cases) participate in a zero sum game while charging charging clients retardedly high commissions.
Wall Street has gotten exceedingly good at getting themselves in between two parties that want to make a deal while reaping huge ass commissions. Warren Buffett buys companies for billions of dollars. He writes the contract. It is only a few pages long. There is no middle man. Point being, it does not take millions.
Also, mutual funds, etc as a whole are a failure to the typical investor. Fund managers (making hundreds of millions a year in some cases) participate in a zero sum game while charging charging clients retardedly high commissions.