My love/hate relationship with the financial industry shifted into overdrive when I read a recent headline.
It was an advertisement for a new ETF (Exchange Traded Fund). And it was written for a major mutual fund company that I USED to respect.
Here it is. And, please, tell me if you understand it.
“ETFs that put people in charge of the equation.”
First question: What equation are they talking about?
Second: What “people” are in charge and are they in charge of the ETF or the equation?
WHO WRITES THIS CRAP???
I’ll tell you who writes this crap. Some 23-year-old Ivy league MBA grad with NO EXPERIENCE in the real world.
Sorry, I need to calm down.
The love/hate I feel when I see this garbage is simple.
I HATE IT when Wall Street uses fancy language (that the average investor doesn’t understand) to impress people with their self-importance.
I LOVE IT because it reminds me of the need, for people like you, to have easy and uncomplicated way to avoid getting hustled by these pros.
Yeah, I know this seems like another shameless plug for my newsletter (it is), but unless you check it out, you won’t know for sure.
Go there now (LINK)
P.S. There are many other reasons why I hate ETFs and other packaged products. We share them with you every month (HERE).