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by stryker
5278 days ago
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His story is a bit hyperbolic. Not sure which bank he worked at, but any business sector can have bad/incompetent companies where consumer / investor ignorance and asymmetric information allows them to add minimal value for high fees. He also recommends passive investing, but a lot of indexes like the SPY and DIA are managed and correctly priced thanks to a lot of firms (probably including some big banks!) at Wall Street. |
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