Wall Street for Dummies
There are a 140 Americans who have $26 trillion (that’s trillion with a T) invested in self-directed retirement accounts. These dollars are unevenly spread between active 401(k) plan and self-directed IRAs. Just thinking about these dollars market has the mavens of Wall Street salivating, because they see this as their golden ticket to a lavish lifestyle. Last year alone, Wall Street took in $250 billion for their participation in the management of these accounts.
The mission of my podcast is to answer the question; “Is the juice worth the squeeze? While the group in total paid $250 billion dollars in fees, some paid significant fees, while others paid next to nothing, and yet experienced better than average returns.
This begs the question; Which group would you prefer to belong to???
I borrowed the title of my educational program, Wall Street for Dummies, from the successful series of books that takes technical topics and presents them in a fashion that the non-professional can master on their own. On the surface, the title may sound like a put down to my followers, but it is intended to be a single digit salute to the Wall Street professionals indicating that they are not as elite as they claim to be.
Wall Street for Dummies
Season 1 Episode 2 The Amazing Electronic Stock Market
For the first 200 years of its existence, the New York Stock Exchange operated as a virtual monopoly. Then in 2007, the SEC decided that the NYSE needed more competition, and miraculously 12 new electronic exchanges appeared. Their electronic infrastructure was a game changer. New electronic traders entered the mix and dramatically altered the markets pricing mechanism.