stockbroker calls sparkling husband primitive

[franksolich]

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x3717175

Oh my.

Not only a real estate magnate, the sparkling husband primitive, but also a capitalist.

Husb2Sparkly  Donating Member  (1000+ posts) Fri Aug-01-08 06:42 PM
Original message

So ..... one of my brokers called today ........
   
..... he's the guy who has a small, long languishing, uncontributed-to-for-at-least-ten-years IRA.

He wanted to buy us lunch. Talk about our 'portfolios' (hahahahaha).

He thinks we've hit bottom and are climbing out.

Hahahahaha

This should be a good meeting.

Hahahaha

Hit bottom. Where do they get this stuff?

Oy vey.

AchtungToddler  (1000+ posts) Fri Aug-01-08 06:59 PM
Response to Original message

1. they are paid to be idiots

speedoo  Donating Member  (1000+ posts) Fri Aug-01-08 07:01 PM
Response to Reply #1

2. Paid by their clients.
   
Which begs the question, why do their clients continue paying them?

onethatcares  Donating Member  (1000+ posts) Fri Aug-01-08 07:08 PM
Response to Original message

3. how was lunch? did ya run a tab on him, make him break out the amex card? hmmmmm, drinks and lunch, my type of work.

Husb2Sparkly  Donating Member  (1000+ posts) Fri Aug-01-08 07:11 PM
Response to Reply #3

4. I'm sorry. I was unclear ....... lunch is the week after next.
   
His remarks were on the phone ......

onethatcares  Donating Member  (1000+ posts) Fri Aug-01-08 08:14 PM
Response to Reply #4

9. well, start fasting now, Enjoy, but let him use his card. Peace

nradisic  Donating Member  (648 posts) Fri Aug-01-08 07:12 PM
Response to Original message

5. he might be right...
   
I myself have been putting money back in the market and I think if you have at least a three to five year horizon, it is a great time to buy....

krabigirl  Donating Member  (1000+ posts) Fri Aug-01-08 07:23 PM
Response to Reply #5

7. agreed

bemildred  Donating Member  (1000+ posts) Fri Aug-01-08 08:26 PM
Response to Reply #5

10. Not quite yet.
   
But it's hard to wait.

Trailrider1951  Donating Member  (685 posts) Fri Aug-01-08 07:18 PM
Response to Original message

6. Beware H2S, I think he is going to pressure you to contribute more and buy one of his "Great Deal, Ground Floor Opportunity" snake oil deals. He's called a "broker" because he's broker than you are! And the way he makes his money is to sell you something with a large fee that pads his paycheck. And chances are, he is being pressured by his boss to perform better, even if your "investments" don't.

Husb2Sparkly  Donating Member  (1000+ posts) Fri Aug-01-08 07:31 PM
Response to Reply #6

8. We've been down that road before. He knows REAL well it he pushes me .....
   
.... he simply loses a client. I have two other guys, one of whom does my SEP IRA, where all the real money goes.

Nobody gets an exclusive with Stinky.

You know, how come these wealthier primitives aren't sharing their wealth?

At least with their fellow primitives?

I mean, the bobbling primitive needs a home, the subway cat needs money, Fat Che needs to pay himself for running his web-site, &c., &c., &c.

I'm sure if the sparkling husband primitive actually believed in all those things he says on Skins's island, he'd be happy to share the wealth.

[Carl]

I have had some dealings with "advisors" like this and after you are signed up the best you will get is a Christmas card.

No doubt that isn`t the case everywhere but to recontact a dead account after 10 years would be a complete waste of time to a broker who is making a living on commissions.

This is simply a stupid story.

On a side note the suggestion is made that the primitive has more then one IRA.
My question is why would anyone do that?

As it was explained to me years ago when I set up mine there was no benefit to having more then one account designated as an IRA.

Has this changed?

[BlueStateSaint]

The first word of the neutered primitive's missive should have tipped you off, Coach. 

So

[DixieBelle]

he's just trying to impress the slower primitives.

[jukin]

As for "hitting the bottom and starting to climb out"...if Hussien is elected, the "bottom" will know no bounds.

Oh come on now BC, it common knowledge that taxing everyone and everything makes a better economy.

A liberal thinks that taxing energy will make energy usage go down but that taxing investments will make investing go up.

[USA4ME]

Primitives like to play the "I'm higher up in the heirarchy than you are" type games under the guise of just informing the other primitives about what's going on in their lives.

.

[jtyangel]

I have had some dealings with "advisors" like this and after you are signed up the best you will get is a Christmas card.

No doubt that isn`t the case everywhere but to recontact a dead account after 10 years would be a complete waste of time to a broker who is making a living on commissions.

This is simply a stupid story.

On a side note the suggestion is made that the primitive has more then one IRA.
My question is why would anyone do that?

As it was explained to me years ago when I set up mine there was no benefit to having more then one account designated as an IRA.

Has this changed?

Well, what he's probably not telling is that his 'broker' is the local guy with one of the discount house. He's probably been given the job of updating account information.

He is lying about something since a broker isn't generally going to meet  like that unless there is substantial money involved. Either hubs has some money funneled away he's not disclosing to the hive(which would make him a hypocrit on so many topics) and the broker is trying to get him to be more active in the account likely to justify a premium service he is not really entitled to by his inactivity or the broker called him to update his account information(which is part of the 'know your customer' rule btw) and that was the end of the inquiry. Probably the latter, but hubs 'broker' called him. Yeah, I used to call to update that stuff too--never required a lunch date to do it though and brokers don't 'meet for lunch' outside the office unless some major $$ are sitting there to be invested. Not only is it in the interest of sales they do it, but because it is irresponsible to sit on a shitload of cash when it does not fit into the customers STATED and AGREED to objectives. It is the brokers DUTY to be sure the client is not hurting himself financially, even if they only advise them of the situation.

[DumbAss Tanker]

It's poised to take off like a rocket, IF Congress would dump the off-shore oil drilling ban.  Obama won't be able to do any actual damage to the economy until January, but if Reid and Pelosi stand by the ban through October, futures would begin to slide seriously immediately after BHO gets elected, gradually pulling everything else into the hole after them.