Originally Posted by
fliion
Another false analogy - Bernie Madoff averaged 11% pa consistently over 15 years which is actually what brought him to the attention of amongst others - Harry Markopolos.
Harry knew that 11% pa through the ups and downs of market swings was impossible - so he started making noise. You can have an average of that after 15 yrs but with huge swings - Bernie didn’t swing.
I think Warren Buffets average over the course of his life is sub 30% return pa.
Then you have a kid from India selling 120% pa - it’s not a “high & mighty” attitude... it’s FFS get a clue
and that is just it. Some can't "FFS get a clue".
I am very sound when it comes to financial knowledge, but have you talked with some of these people about money before. They have no, NO clue at all. It is shocking to me, but it is fact. I can't even explain the utter lack of understanding at this level.
These are the same people that have never heard of Warren Buffet, let alone Bernie.
I did not know how BM was uncovered as I had no real interest in that story, so thanks for the details there.