Gary Weiss Quotes
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Legitimate institutions historically have been defenseless in the face of outright fraud.
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People are told their rights when they're arrested. Consumers getting collection letters are entitled to the same courtesy.
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There are a lot worse things you can do with all your bucks than giving them to even a mediocre mutual fund - such as, for example, giving them to a mediocre hedge fund. If supporting the lifestyle of a mediocre fund manager is your favorite charity, who am I to stop you?
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The media and marketing deluge has spawned a new type of Wall Street loser: the armchair momentum player. These are novice investors who engage in short-term stock buying and selling based on media reports or an expert's enthusiasm.
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If you think Wall Street has a short memory, you're dead wrong. No, the folks who work on Wall Street, regulate Wall Street - and, above all, invest in its wares, notably its hedge funds - don't have a bad memory. They don't have any memory at all.
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Numerous academic studies have shown that amateur investors make poor traders - buying stocks for the wrong reasons, holding losers for too long, and acting on whims and emotions.
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For the Amex, which has been casting around for a role for itself, microcaps fill a crucial void - a 'niche' that Amex officials feel has been neglected.
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The Amex has a long, often troubled, sometimes glorious history.
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All too often, the pitchmen are selling the notion that if you gain 'control' over your financial destiny - pick your own stocks and execute your own trades - it will be the first step on a short road to riches.
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Mutual funds dare to be average. In fact, they dare to be lousy. They have long since ceased striving for anything resembling perfection when it comes to managing your money.
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In the U.S., diversity is a politically correct slogan. In India, it is a historical fact. Much as we in the West may resent it, India has a lot to teach us when it comes to religious tolerance.
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When it comes to making laws that protect the public from the financial services industry, Congress has done a progressively worse job since the Pecora Commission hearings of the early 1930s, which led to Congress taking bold steps to regulate banking and securities firms in 1933 and 1934.
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Even a casual reader of the financial pages knows that microcaps are a perennial headache for regulators and, above all, for investors because they have been prone to abuse by stock manipulators.
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At their worst, message boards can subject you to mindless braying or outright stock scams. But at their best, they provide meaty insights on just about every stock imaginable.
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The flip side of humiliation is pride.
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Humiliating events have a way of capturing the public's imagination. So it has been since antiquity, when gladiators were pitted against each other and the legions of Spartacus were crucified in endless rows on the way to Rome.
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With such enormous bucks devoted to trading in oil and other commodities, the distortions that they cause have been exacerbated.
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Newt Gingrich is a boastful kind of guy. But when it comes to Wall Street, the former House speaker is surprisingly modest.
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With 'posts' running in the millions, Internet message boards have become an essential part of the savvy investor's arsenal.
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For Randy Neugebauer, the Texas Republican who chairs the investigations subcommittee, the top sources of funding for his 2012 reelection campaign are from the insurance, banking, finance, securities and real estate industries.
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India may be the only country in the world that has been free of anti-Semitic prejudice throughout its history.
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Beefs against debt collectors are consistently among the top complaints received by both the FTC and state attorneys general.
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I've met Dick Syron. I like the guy. He's a man's man kind of character, a real charmer, the kind of guy you'd want to have a beer with, as well as being an economist of considerable repute.
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Despite all the drawbacks, the Internet provides a wide array of information - and some of it is being watched pretty carefully by the pros.