I was reading an article recently about strategies for my 401k and it occurred to me. The people giving the advice in the article were the same ones giving advice before the crash. My old 401k nest egg was scrambled, but somehow the advisors that totally missed the impending financial meltdown emerged sunny-side up.
We sure do have short memories. Wasn't it four odd years ago that the laissez-un-faire no-financial-regulation people managed to bring down the entire world economy? And with it many of our middle class retirement plans? Proving once and for all that Wall Street doesn't have bulls and bears. It has wolves and sheep.
We sheep turn over our money expecting fair treatment in a open market. It's fair all right. We're all slaughtered by the wolves equally.
Be that as it may, I was still interested in the firm who was doling out this new sage investment advice. Their name is Morningstar.
Years back, when I briefly worked in the investment business, my supervisor asked me to thin down potential investments for her by first using Morningstar to separate the wheat from the chaff. Morningstar rated companies based on a number of esoteric factors. Like whether they were a poor risk because they used some of their profits to provide pensions for their workers. That was considered bad. Because, you know, you don't want to encourage good work and employee loyalty; it lowers your dividends and doesn't reward unloyal nameless investors enough.
Always seemed a little evil to me. So it's funny what finally occurred to me when I read the recent advice article. Morningstar is the translation of Lucifer.
Hmm... the biggest stock advisory company out there. And it's still in business. And its name is Satan.
It explains so much...
America, ya gotta love it.
Friday, November 16, 2012
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