Last week I shared with you an eye-opening lunch I had almost 30 years ago with a Wall Street power-broker.
You got to see how those Wall Street traders, decked out in custom made cashmere silk suits, yellow Hermes power ties, and, of course, solid-gold Rolexes that just happened to always be sticking out of their sleeves, are nothing more than glorified salesmen desperate to pocket their next commission.
Believe me, they honestly don’t care who they have to step on to get it.
To them, it’s all about selling you whatever will pay the highest commission — not about helping you take your investments to the next level!
But even more damaging is that they sell you on the idea that you’re too busy to invest… that you’re better off just handing over your hard-earned money without a second thought.
And the moment you peel this ugly curtain back and see Wall Street for what it really is, you’ll realize just how easy it is to beat the market.
The Times They Are A-Changin’
Now fast-forward to today: has anything on Wall Street changed?
If that Wall Street power-broker I told you about was still around today, do you think he would be more concerned about your investments?
Of course not.
In fact, nothing much has changed on Wall Street in the past 30 years — or even the past 100 years, for that matter!
Fee income from assets under management is now an even bigger revenue generator for investment banks — especially since they can no longer trade for their own accounts due to a regulation made after the financial crisis of 2008.
The fee income from wealth management for four investment banks alone in 2015 was more than $52 billion!
Think about it this way…
If fee income of those banks were their own company, they would be the 53rd largest company in the S&P 500, just behind Disney and ahead of Coca-Cola!
The costs alone (management fees, bid/offer, and commissions) are enough to guarantee investors will have sub-par performance for years to come.
Look, it’s hard enough to beat the S&P 500 index — something that fewer than 5% of money managers are able to do over a five- and 10-year period — but now that we’re piling on these exorbitant management fees and other costs to that, it’s a recipe for disaster.
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The Smarter Way to Invest
Over the next few weeks, I’m going to share with you a better way to make money in the markets.
And here’s the best part: it has NOTHING to do with Wall Street’s “helpers.”
Not only is it possible to make money — and I’m talking big money — from Wall Street, but I want you to see firsthand how investors like us have racked up a huge fortune by avoiding the traps set by financial advisors and stockbrokers.
In fact, these people came from remote corners of the country, places such as Buffalo, New York; Brattleboro, Vermont; and Lake Forest, Illinois.
Some of these folks started with only $200 and never made more than 12 bucks an hour from their daytime jobs.
They didn’t have access to insider information and didn’t go to Ivy League colleges.
More impressive is that they had no experience in the financial field — one was a parking lot attendant, the other a nurse, and the other worked as a janitor.
Yet they all built fortunes that ranged from $500,000 to as much as $8 million!
You see, these everyday investors didn’t even have to deal with the more complicated aspects of investing… risky options, bonds, dividend reinvestment plans, penny stocks, or real estate.
Instead, they built their fortunes on a little-known secret that Wall Street power-brokers don’t want you to know about, because it will put them out of business for good.
In the coming weeks, we’re going to dive further down this rabbit hole, and it won’t be long before you’re ready to take full control of your investments.
In the meantime, I strongly urge you to check out my latest investment presentation that can help you take that first step.
Just follow this link for the complete details.
All my best,
Charles Mizrahi
Twitter: @IWPeditor
Charles cut his chops on the trading floor of the New York Futures Exchange before moving on to become a wildly successful money manager on Wall Street.
And with more than 35 years of recommending stocks under his belt, Charles has knocked the cover off the ball, compiling an amazing record of success and posting gain after gain for his loyal readers. He is the editor of Park Avenue Investment Club and the Insider Alert newsletters.
Charles is also the author of the highly acclaimed book, Getting Started in Value Investing.
