Warren buffet’s always right and on point with his bets and picks. Therefore, it would be right to say that by the end of the year, Buffet will both win and donate a million dollars to charity. If the prominent investor from Omaha, Nebraska is right then, he will have succeeded in proving just how useless fund managers are when building a sound investment portfolio.
Million Dollar Bet
Of course, and as it to be expected, this wager shocked and even upset, some industry bigwigs who beg to differ with the eighty-six-year-old philanthropist. The renowned portfolio manager and equities analyst, Tim Armour recently penned an opinion commentary on CNBC.com. In the post, he begins by concurring with the wisdom of the Oracle from Omaha. Tim agrees that consumers are getting exploited by some of the investment brokers out here. He echoes me. Buffet’s sentiments of continual saving and investment for a secured retirement.
Caution to Investors
According to Tim, mutual funds like the one owned by Buffet aren’t as glossy as they at first appear. Many clients end up constantly making losses owing to high membership fees charged by the top rated hedge fund firms. Tim also mentioned excessive trading as a cause for the poor ROI for investors. The safest bets, for folks looking forward to a financially secure retirement, would be to ditch the S & P Index listed firms and seek shelter in the mutual funds.
About Tim Armour
Tim ascended to the helm of Capital Research and Management Company following the untimely demise of the then President, Mr. Rothenberg. Over the span of thirty-four years, Tim had proven himself a worthy replacement for the CEO who succumbed to a heart attack. He has received numerous awards and accolades for his outstanding capabilities while serving in various capacities at the Capital Group of Companies. After graduating with an economics degree from the Middlebury College, he signed up for the Associate’s program at Capital Research and Management Company. He never left; now he runs the successful investment firm from L.A, California.
Categories: Business Guru