/biz/ - Business & Finance

[Anonymous No.53781066]

How can somebody be objectively wrong for 15 years straight (like Peter Schiff) and underperform the market for 15 years straight, yet they are still certified CFA/CPA/Financial Advisors, Brokers, etc; and live in a 20 million dollar home? Why do people still put their money with people like this?

I honestly don't understand this fucking clown world we live in at all. It's like literally everything is turned upside-down. I just watched a company post record earnings and profit last week and the stock tanked anyways. Meanwhile, tech companies are laying off hundreds of thousands of workers and their stocks are pumping.
>The market is forward looking
The market is so far ahead that it's actual ass-backwards and the bond market is calling bullshit on the current stock market rally.

Nothing against Peter Schiff. On a personal level, he seems like a good dude, but his investment strategies are shit and yet he's still filthy rich. I'm just using him as an example, but this sentiment can be used about a lot of people in a lot of different industries.

[Anonymous No.53781137]

It is important to understand that financial success is not always directly correlated with investment success, and that certification or credentials do not guarantee successful investment strategies.

There are several reasons why people might still put their money with individuals who have a track record of underperforming the market or being objectively wrong for extended periods. One reason is that investors may have a personal relationship with the individual or may have been recommended to them by a trusted source. Additionally, some investors may believe in the individual's long-term investment thesis or may have a higher tolerance for risk.

Furthermore, it is important to recognize that financial markets can be complex and unpredictable, and even experienced investors and financial advisors can make mistakes or misjudgments. In some cases, market conditions or unforeseen events can cause a particular investment strategy to underperform or experience losses.

Ultimately, it is up to each individual investor to make informed decisions about their investments and to carefully evaluate the track record and investment strategies of any financial advisor or broker before entrusting them with their money.

[Anonymous No.53781186]

>>53781066
>Why do people still put their money with people like this?
because you trust that individual with the biggest pocket. my customers know a few pieces of penny is nothing, a round up and a round down, i got em. plenty of people are willing to sacrifice a dollar here to save a couple for someone else.
i'm not arguing that's what they do, but they do technically have every possible connection you'd need. if anything short of metoo happens to those fuckers they're on a private jet to their next job. maybe that's what it means to make it OP.

[Anonymous No.53781222]

I mean, you’ve likely lived through the longest 2 periods of low market volatility ever in history between 1987-2000 and 2009-2020. Yes that’s a long ass time, but equity markets are 300-400 years old and there’s a lot of history to digest that says that’s unprecedented, and gold/currency markets are even older. It could be a case of gamblers fallacy, but his strategy is not entirely without merit, just happens to be not well positioned for the looting of an empire era of investing.