Paul B. Farrell: Lazy Portfolios at war with Wall Street casinos
There are 95 million Main Street investors in America. Want to buy stocks? You have no choice. You gamble your hard-earned money, actively trading retirement money at Wall Street’s casinos. You can’t win.
The casinos have a million “croupiers,” as Vanguard’s Jack Bogle aptly calls Wall Street insiders. They’re manipulating Wall Street’s gaming tables 24 hours a day. Wall Street’s croupiers are secretly skimming a third of your returns off the top.
And they secretly are pocketing millions by betting against average Americans who work all day. Yes, the games are fixed. Yes the house always wins. Yes, always.
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