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My parents recently inherited a large number of money from my maternal grandmother and put $500k of it into stocks chosen by a pair of financial advisors who came "highly recommended" by their neighbors. Since the start of 2013, their portfolio has earned a whopping $700 profit.
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Jul 28, 2013 01:30
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| # ¿ May 4, 2024 17:22 |
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baquerd posted:Where did the other $60k of profit that they would have gotten out of any semi-reasonable stock portfolio go? Well $1400 of it goes to their advisors' percentage-based quarterly fee. As for the rest of it, no idea. I told them I could make them more money picking stocks out of a hat and wouldn't even charge them for it, but now they're afraid of incurring costs by liquidating their holdings.
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Jul 28, 2013 01:57
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