- Being detailed about your investments and knowing where the interest of your financial intermediary lies is essential for your financial well being.
- Fees, underwriting commissions, investment fads, and Wall Street’s short term focus cost investors more than 1% a year.
- On a $100,000 initial portfolio, a 2% yearly difference in returns after 30 years adds up to $738,675.
The bold statement The Nature of Wall Street Works Against Investors is the title of the second chapter of Seth Klarman’s book Margin of Safety – Risk-Averse Value Investing Strategies for the Thoughtful Investor.
As the book is an essential read for every investor but very difficult to come by and expensive to get, I am summarizing it for you alongside adding updated commentary in relation to the current market situation. More →