Wall Street Ten Commandments that’ll send you Broke

Wall Street is full of high sounding, feel good sayings about investing. Al Thomas of Mutual Fund Magic has put together what he calls The Wall Street Ten Commandments that he says will senNever Lose Money in the Stock Marketd you broke.

I suggest you get them framed and hang them on your wall. Then when ever you need to talk to your financial planner stand in front of them and recite them several times. That way you might just avoid falling under their spell when you talk to your financial wizard – er I mean adviser. 😉

Wall Street’s Ten Commandments that will send you broke

  1. Do Research
  2. Buy and Hold
  3. Dollar Cost Averaging
  4. Diversify
  5. Buy a good stock and put it away
  6. You can’t afford to be out of the market
  7. Never try to time the market
  8. Rearrange your portfolio with age
  9. Your broker will watch your account
  10. The market always comes.

I strongly recommend you get his book called “If it doesn’t go up DON’T BUY IT! to find out why he calls these ten commandments all lies. It is a necessary part of Baby Boomer’s in Retirement education.

Al goes through explaining what he thinks of each of the ten commandments throughout the book. He also makes recommendations of where to go to get good and reliable information on buying and selling mutual funds.

He has a chapter that he calls Never, Never Land. This chapter includes 24 of his “Never Do” rules. This is another list I recommend you put up on your wall and read before you even think of buying or selling Mutual Funds Stocks or Bonds.

The book is a great guide to mutual fund and stock investing if you decide to do this yourself.

I have no affiliation with Al Thomas. I just think he talks a lot of sense.

2 Responses to “Wall Street Ten Commandments that’ll send you Broke”

  1. David P says:

    Hi David,
    Thanks for the time you put into your blog.
    I was so angry with my planner/broker (sending me broker), i ordered this book on your advise, and it is better than i expected. The very simple strategies for non-financial gurus (me) to manage their own investments, and not lose, is a relevation to me. Knowlege is power.
    Regards,
    David

  2. admin says:

    Hi David,

    You should be angry. The financial planners are using a flawed investment model and have done nothing to change their ways except issuing more justifications by way of “there are exceptions”. It’s all voodoo to me.

    Thank you for your kind words. Please spread the word. The problems I find is some of my friends still want to believe there is a tooth fairy when it comes to financial planning and you need to have faith and invest for the long term without any regard to what is happening in the markets or the world economy.

    Regards,

    David

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