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Carsenio's avatar

Vanguard. It's so simple. Even Buffet says Vanguard.

It's. Not. That. Complicated.

People can't help it, I suppose. They want to feel like they're gaining slightly on others, want their retirement to have some action on it, want to feel smarter. You're not smarter and more informed and - most importantly - you don't have the cold-blooded viciousness that these people have to take money from a 65 year old teacher who struggled her whole life.

The people I really feel sorry for are those that have idiot pension managers that don't just f'ing invest in Vanguard. The pension managers get in trouble the same way, trying to look really smart.

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Stowerling's avatar

It feels like the Charlie Munger classic "Show me the incentives and I will show you the outcome." fit well here. Very sad for the people that entrusted their pension money to the pyramid of financialization.

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