The Wall Street establishment doesn’t want you to read this article, and I’ll tell you why. If you’re an investor and not getting all the returns you deserve, there are lots of possible reasons. Perhaps the biggest one is that Wall Street likes it that way.
Giant firms like Goldman Sachs, BlackRock, Morgan Stanley and JPMorgan Chase routinely make billions of dollars in annual profits, and that’s after routinely paying their armies of salespeople mid- to high-six figure salaries plus bonuses. From your point of view, the returns you achieve are equal to what’s left over after Wall Street takes its cut in the forms of expenses, sales commissions, hidden costs, and more. But from Wall Street’s point of view, the more you keep, the less is left for brokers, traders, sales people, marketing people, advertising agencies, executives, corporate jets, sales incentives, and other “essential” tools of the trade. Yes, the overall stock market had a dismal time of it last year. And that’s not the fault of the investment banks, insurance com …