Many of you Warren Buffet fans are probably going to hate me for what I’m going to say about good ole’ Uncle Warren.
I’m not discrediting his track record. It’s outstanding.
But the reality is, he’s a crony capitalist and a member of the “Club.” And he makes most of his money by taking advantage of taxpayers like you and me.
That was obvious, in 2008, when he pressured Obama to continue to bail out his bankrupt companies. (Namely AIG…but that’s another story for another time).
In the last few years he’s been on his high horse saying that the best thing for the average investor is to buy an “INDEX FUND.”
Seriously, Warren, how much of your fortune did you amass from buying index funds?
And how many billions do you currently have in them?
What he’s saying is, index funds are for lazy investors who aren’t as smart as him. They’re passive investments that allow you to be a part of the grand scheme of Wall Street.
What he’s not saying is that when the day of reckoning comes for the stock market he’ll be laughing all the way to the bank while the little guy gets slaughtered.
Then, as in 2008, he’ll cry to the government about “having to restore confidence in the markets…and he’s the man to do it.” (at a price he will dictate on behalf of the “Club” members).
I’m not saying you shouldn’t buy index funds. But I’m saying when guys like Buffet are telling you to buy them, it’s time to ask the question: WHY?
Remember, Wall Street is NOT your friend. And these guys never do anything in the best interests of you or me.
Find out more about how Buffet and his cronies manipulate the markets with ETF’s (HERE).
And pass this on to a friend who owns ETF’s…they’ll thank YOU later.