Morgan Stanley clients should think long and hard about what’s in it for them, seeing how that is all Morgan Stanley is thinking about. According to Sarah Krouse and Michael Wursthorn of The Wall Street Journal, “Morgan Stanley has already decided that as of next week its brokers will no longer be able to sell clients new positions in Vanguard mutual funds.” Because offering clients quality, low-cost funds is a horrible thing to do? No, Morgan Stanley would rather push product Read on...
Politics, Investing and Propaganda
I used to look forward to voting when I was younger as I was certain of what I was doing. My lack of sophistication and naiveté made me see things in very simple terms and it was easier to choose between the “right” candidates and the “wrong” candidates. Now, I am jaded, and I realize that everyone has an agenda and some have better propaganda machines. An advertising budget can do wonders in painting either a shiny, albeit inaccurate picture; or a scathing and unfair one. Many investors fall Read on...