- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Jordan "Belford" Belfort, The Wolf of Wall Street, Interviewed by Tucker Carlson
Posted on 1/2/24 at 5:25 pm
Posted on 1/2/24 at 5:25 pm
Belford markets his latest book, The Wolf of Investing, as an insider's guide for making a fortune. He says allowing other people to manage your assets is a stupid thing to do. His insider's view is to invest early in low-cost S&P500 index funds and add (and increase) bond funds as you get older, and if you're going to speculate on stocks, limit it to 5% of your investments. Let the power of compounding interest get you to "wealth."
I agree with him, but I thought hearing that from the notorious Wolf was funny. Plus, I like to needle the financial advisors who post here. Happy New Years.
I agree with him, but I thought hearing that from the notorious Wolf was funny. Plus, I like to needle the financial advisors who post here. Happy New Years.
This post was edited on 1/3/24 at 11:55 am
10
Posted on 1/2/24 at 5:26 pm to RoyalWe
Was his girlfriend that good looking in real life?
Posted on 1/2/24 at 5:27 pm to RoyalWe
Was a great interview. He aint wrong especially after watching all seasons of Billions
Posted on 1/2/24 at 5:41 pm to RoyalWe
Same thing Warren Buffett has been saying for years.
Posted on 1/2/24 at 5:55 pm to GeauxTigers123
quote:
Was his girlfriend that good looking in real life?
Pics please of Margot and real life gf
Posted on 1/2/24 at 6:20 pm to makersmark1
Posted on 1/2/24 at 6:45 pm to RoyalWe
Picked this up at library recently. Couple chapters in and it's not great. Very basic stuff so far like what is market cap or P/E. May be a good book for beginners. He attempts to use a conversational style and keep it light. Hopefully a new audience will get the message to avoid trading and just buy index funds unlike his BIL that quickly squandered his investments actively trading and holding losers.
He mentions being on his 3rd wife. She's from Argentina.
He mentions being on his 3rd wife. She's from Argentina.
Posted on 1/2/24 at 7:05 pm to shavedmonkey
Jim Simons (the greatest investor of all time) even has a Financial Advisor.
This post was edited on 1/2/24 at 7:06 pm
Posted on 1/2/24 at 7:19 pm to shavedmonkey
No clue if this is Jordan or his wife Naomi but not a bad looking girl by any stretch.
Posted on 1/2/24 at 9:05 pm to RoyalWe
So he's saying the same thing that literally everyone in the mainstream financial world says and put it in a book and is now shilling that book using his celebrity status? I admire the continued grift.
I also agree with him that for probably 85% of Americans there is no need for a financial advisor with all the information and tools available to us.
I also agree with him that for probably 85% of Americans there is no need for a financial advisor with all the information and tools available to us.
Posted on 1/2/24 at 10:07 pm to RoyalWe
He’s right
No need to stress about trying to Beat the Market.
Invest in ETF’s like SPY, QQQ and maybe an equal weight sp500 etf and you cut down on fee’s which means you likely beat the managed investing scheme which rarely even beats the market
No need to stress about trying to Beat the Market.
Invest in ETF’s like SPY, QQQ and maybe an equal weight sp500 etf and you cut down on fee’s which means you likely beat the managed investing scheme which rarely even beats the market
This post was edited on 1/2/24 at 10:08 pm
Posted on 1/3/24 at 9:34 am to RoyalWe
BELFORT
not BELFORD
not BELFORD
Posted on 1/3/24 at 9:38 am to Thundercles
DUDE WE HAVE MONEY TALK
AIN'T NO STINKIN NEED FOR NO FINANCIAL ADVISOR!!
AIN'T NO STINKIN NEED FOR NO FINANCIAL ADVISOR!!
Posted on 1/3/24 at 10:19 am to RoyalWe
quote:
His insider's view is to invest early in low-cost S&P500 index funds and add (and increase) bond funds as you get older, and if you're going to speculate on stocks, limit it to 5% of your investments. Let the power of compounding interest get you to "wealth."
He wrote an entire book on this?
This has been standard advice for decades.
Posted on 1/3/24 at 12:50 pm to RoyalWe
quote:
He says allowing other people to manage your assets is a stupid thing to do.
Well when I invest myself I usually lose money and our financial asdvisor is getting us 15% annual returns so I’ll stick with mostly that
Posted on 1/3/24 at 1:12 pm to deltaland
quote:
Well when I invest myself I usually lose money
Why don’t you just invest in broad market indices?
You’ll never lose against “the market” and you don’t have to pay even more fees or an extra percentage to some third party.
I understand using a guy to help with tax planning strategies etc but for investment advice? I’m almost guaranteed to beat the advisor over the long term.
The advisor has to consistently beat the market by a decent margin to just break even vs the SP500. The likelihood of the advisor doing that over the course of 10,15, 20+ years is low. VERY low.
This post was edited on 1/3/24 at 3:39 pm
Posted on 1/3/24 at 4:41 pm to JohnnyKilroy
quote:Warren Buffet Crushes Hedge Fund Manager, Ted Seides, in $1MM Bet
The advisor has to consistently beat the market by a decent margin to just break even vs the SP500. The likelihood of the advisor doing that over the course of 10,15, 20+ years is low. VERY low.
In 2007, Buffett bet a million dollars that over the course of a decade, a simple S&P 500 index fund would outperform a basket of hand-picked hedge funds. He picked the Vanguard 500 Index Fund Admiral Shares (VFIAX).
Hedge fund manager Ted Seides from Protégé Partners accepted the bet and picked five funds-of-funds. A fund-of-funds is a portfolio of funds that charges two layers of management fees.
The outcome? Buffett triumphed decisively.
Buffett shared the final scorecard of the bet in his 2017 shareholder letter. The S&P 500 index fund he selected delivered a total gain of 125.8% during the decade, while the five funds-of-funds reported respective gains of 21.7%, 42.3%, 87.7%, 2.8% and 27.0% during the same period.
Buffett gave all proceeds to charity — and Girls Inc. of Omaha turned out to be the biggest winner of the bet.
Posted on 1/3/24 at 6:30 pm to RoyalWe
shite that’s not even mentioning the tax effects of actively managing your entire port.
Posted on 1/4/24 at 10:14 am to RoyalWe
quote:
He says allowing other people to manage your assets is a stupid thing to do.
My 403b, 457b, and HSA charge management fees to own nothing but mutual funds that track the S&P.
I own ETFs in brokerage funds that do the same, but with MUCH lower fees.
I get that Belfort might have been talking about FAs, but the fees I pay each year in retirement accounts doesn't seem like I will ever escape some level of "other people managing my assets".
Posted on 1/4/24 at 12:08 pm to Bunsbert Montcroff
quote:Unfortunately your employer signed the agreement with your retirement broker allowing those fees to be paid whether you manage what you invest in or let one of their agents or bots do it for you. Those fees are a pet peeve of mine as well, but if your company matches anything you put in then it's a price you have to pay. Sucks.
I get that Belfort might have been talking about FAs, but the fees I pay each year in retirement accounts doesn't seem like I will ever escape some level of "other people managing my assets".
Page 1 of 2
Popular
Back to top
Follow TigerDroppings for LSU Football News