WITH BERNIE'S FALL...THE FINANCIAL SERVICES BOOM MAY HAVE ENDED...
THE HEDGE FUNDS AND EVEN SOME MUTUAL FUNDS COULD BE GOING THE WAY OF THE 'INVESTMENT TRUSTS' OF THE 1920'S...
MANY OF THE "RICH" WILL START TO MANAGE THEIR OWN MONEY...INSTEAD OF PAYING OUTRAGEOUS FEES FOR POOR PERFORMANCE...OR WORSE YET A PONZI SCHEME...
MOST RICH FOLK KNOW THE OLD RULE: "NEVER LOSE CONTROL OF YOUR ASSETS."
IT'S AN OFFSHOOT OF ANOTHER RULE THAT SAYS: "THE DEBTOR CONTROLS THE CREDITOR".
AND NOT THE OTHER WAY AROUND... AFTER ALL THE DEBTOR ALREADY HAS "YOUR MONEY!" AND HE AIN'T GIVING IT BACK WITHOUT A FIGHT! WHO NEEDS THIS SHIT...!
AFTER THE BERNIE DEBACLE MY HUNCH IS THAT A LOT OF "BIG MONEY" IS GOING TO BE MANAGED "IN HOUSE"... THE DAZE OF THE WALL STREET "MIRACLE WORKER" ARE OVER...
AND HOW MUCH "TALENT" AND "GENIUS" DOES IT TAKE TO SIT IN SAFE US BONDS YIELDING ZERO? AND NO...ONLY LOSING 20% IN A MARKET THAT WAS DOWN 40%...IS NOT REALLY "PERFORMANCE"...EXCEPT IN THE TWISTED WORLD OF "BERNIE AND CO."
THE CURTAIN HAS BEEN PULLED BACK ON THE WIZARDS OF WALL STREET!
