this post was submitted on 13 Jun 2024
817 points (98.5% liked)
Technology
59399 readers
2559 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
They don't have a real job....
Time and time again, these funds don't really beat the average of an index fund.
But the Uber wealthy dont like being lumped together with regular people. So they pay commissions to get the same performance, resulting in less profits than an ind x when it's all said and done.
But the company points to the small parts that do over perform, and downplays the bad parts.
Turn 1 million into 5 million, and it's easy to forget there was another 10 million that's worth 6 million now.
Sure you up a million, but you're focused on that 5x gain and not the 4 million loss. So before commissions it's a draw.
In real life there's interest, inflation, and lots of other stuff that muddies the waters.
It's like their version of horse racing, they bet on a bunch and hope one hits it big and pays off the losses on the others. It's the same as gambling and just as addictive.
So if these employees were answering their phone when a big client calls and letting stuff sit, their performance was probably fine.
Because it's not a real job.