Phil Town: Wall Street ignores accounts under $100,000
Phil Town · EP 572: 400,000 Books Sold Teach How to Take $1000 to $1.5m with Author Phil Town · Feb 16, 2017 · at 5:35
Phil Town describes the barriers small retail investors face when seeking professional asset management.
0:00 / 0:06exact quote · 6.1s
720p mp4 · rendered on demand · StarZero watermark
“The way Wall Street works is that if you have under a 100,000 dollars, almost no one's interested in managing your account.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Phil Town
Phil Town: Modern Portfolio Theory Math Caused the 2008 Crash
“And modern portfolio theory math is what happened to the country in 2008. It's the same math that created the giant meltdown in, in mortgage bonds.”
Phil Town: 4–5% Index Returns Will Leave Millions Struggling in Retirement
“A five percent return or a four percent return, whatever the index is going to do over the next 20 years, is going to leave an enormous piece of America struggling to survive in retirement.”
Phil Town: Investing Is Buying Something You Understand for Below Value
“There's no difference between investing in a franchise, starting your own company, buying public stocks, buying private companies. There's no difference whatsoever. Investing is simply buying something that you understand for less than it's worth.”
Phil Town: Most People Are Merely Speculating With Their 401(k)s
“Everything else is just absolute speculation. And that's what most people are doing with their four or one case. They're speculating.”
Phil Town: Options trading is fundamental to good investing today
“So when I'm doing options trading, for example, which is fundamental, I think, to good investing these days, particularly this market, I know I'm going to lose some investments.”
Town: Greedy public company management teams are value investing's biggest risk
“Where we usually end up with trouble is that the management team, whoever's running it turned out to be a bunch of greedy bastards. And then you can get in trouble because they can do things that you don't, they shouldn't do. And they do it for their own benef…”