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Jack Bogle BTFO! (Compound Interest Scam?)

Discussion in 'Investing/Trading/Cryptocurrency/Altcoins' started by MJ DeMarco, Nov 9, 2017.

  1. MJ DeMarco
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    MJ DeMarco Raving Lunatic Staff Member Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    Thought this was a good take by Tom Sosnoff (I consider him the Fastlane version of Finance) on Vanguard / Jack Bogle and the old MSM darling compound interest of "set it and forget it."

    Here's the VIDEO:
    Thoughts on Wealth Creation & Retirement | Daily Recap | tastytrade | a real financial network

    Here's the BS:

    [​IMG]

    DON'T LISTEN TO CONFLICTED, SELF-PROMOTERS!

    QUESTION CONVENTION!!

    DON'T BE VANGUARDED INTO THE HERD!

    [​IMG]
     
  2. Mr.Brandtastic
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    Mr.Brandtastic Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    It all started when I popped mad stacks into my 401k.
     
  3. NickC
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    NickC Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Perfect ad placement...
     

    Attached Files:

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  4. mike24601
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    mike24601 Consumption Bear Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    Tom Sosnoff is a cool cat. I saw him in a documentary one time and knew he was legit, plus he's one of the only people I've seen who can pull off wearing a beret. In one video he said that the more financial decisions you make in a short period of time, your financial skillset will sharpen exponentially. Lately I've been peeking at the Bogleheads Investing forum and it's kind of a bleak place. You see threads like "Should I buy a 2011 Corolla with crank windows or power windows, and will it kill my investing strategy?" Bruh.
     
  5. fhs8
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    fhs8 Bronze Contributor Speedway Pass

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    I think the advice given wasn't good even for the slow lane. On one slide it recommends to put 40% in bonds. How much one should allocate should be based on the time span and standard deviation.
     
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  6. ZF Lee
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    ZF Lee Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Thanks, @MJ DeMarco. Although I am not in this area yet, I am glad I took the time to watch the entire video.
    It could be a continuation of your earlier thread....
    GOLD - How to Get on the Cover of @Forbes: Don't Take Advice from Forbes.

    It was quite disturbing yet haunting, that even the higher-ups like Jack Bogle keep selling advice contrary to how they got their success and wealth.
    I suppose tastytrade won itself a new follower....I like the philosophy. First time in a long time I have found a financial site that advocated progressive measures rather than money chasing.
     
  7. MJ DeMarco
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    MJ DeMarco Raving Lunatic Staff Member Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    They actually advocate the options selling program I've outlined on the INSIDE. Not exactly the same as I do, but the core strategy of selling over buying is in play. TastyTrade is to finance as Fastlane is to entrepreneurship.
     
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  8. mike24601
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    mike24601 Consumption Bear Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    I don't find it disturbing, but I do see your point of view. I talked a bit of shop about Bogleheads a few inches up the thread but I sort of feel like a grinch now. For every silly thread I see on their forum, I see an equal number of happy, albeit OLD, financially independent people.

    I wouldn't lump Jack Bogle in with the MLM guru's and the paid seminar crowd, rather, Jack Bogle provides advice that the vast majority of people are capable of using. I think Vanguard is an excellent company providing very good products for the average joe to experience the joy of money earning money. They're not thinking about puts and calls, smart beta, or fintech.

    These folks want hands-off investments they can mostly understand, so they buy the total stock market index, turn off the bedside light, and go to sleep. Rebalancing their portfolio all the time would probably introduce detrimental tax implications for them that might outweigh the benefits. The world needs these amazing people to rise each morning and go to work, just as the world needs risk takers and innovators. That's about all I guess.

    This article just appeared a few days ago and I think it's a testament to Vanguard's operating model: New CEO Tim Buckley: To run Vanguard, 'you have to be willing not to be a billionaire'
     
  9. Elif
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    Elif New Contributor

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    It all started when I popped mad stacks into my 401k.
     

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