• Blue_Morpho@lemmy.world
    link
    fedilink
    arrow-up
    2
    arrow-down
    1
    ·
    11 months ago

    That’s on them for falling for the " money managers know what they are doing" scam.

    I fell for it for 10 years. Now it’s direct stock ownsership and etf’s. The founder of Vanguard started his fund because he knew the scam.

    Everyone thinks they have a young Warren Buffett running their investments when really it’s used car salesmen getting kickbacks for investing your money in bad funds. Obama made that illegal but if course Trump made it legal again.

    • lolcatnip@reddthat.com
      link
      fedilink
      English
      arrow-up
      2
      ·
      11 months ago

      Sounds like victim blaming to me. Scams should not be legal or tolerated, and most especially, nobody should be allowed to profit from running a scam.

      • Blue_Morpho@lemmy.world
        link
        fedilink
        arrow-up
        1
        ·
        edit-2
        11 months ago

        Is Vegas a scam? You know the odds. Funds publish their returns and their charges. The commissions on bad investments should be illegal and once were.

        • lolcatnip@reddthat.com
          link
          fedilink
          English
          arrow-up
          2
          ·
          11 months ago

          Do Vegas casinos party money to promote the idea that gambling there is an investment?

          Your analogy sucks. Everyone knows gambling is for entertainment.