Liquid Millionaire, drying up?

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Old Nov 21, 2016, 12:58pm   #49
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Nobel Laureate 3. William F Sharpe.

sigmund1 started this thread "After costs, the return of the average actively managed dollar will be less than the return on the average passively managed dollar.”

William F. Sharpe, Nobel Laureate in Economics, 1990
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Old Nov 24, 2016, 10:54am   #50
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Nobel Laureate 4 Merton Miller.

sigmund1 started this thread "Any fund manager who doesn't have the vast majority of their portfolio in passive investments is guilty of malfeasance, nonfeasance or some other kind of bad feasance!" February 1997 - "Investment Gurus," Peter Tanous

"Most people might just as well buy a share of the whole market, which pools all the information, than delude themselves into thinking they know something the market doesn't. " 1974 -
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Old Nov 26, 2016, 12:18pm   #51
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more quotes on timing the markets

sigmund1 started this thread The evidence has shown that market timing doesn't yield superior results. With that in mind, here are some quotes on market timing from some of the most astute minds in the industry.

Warren Buffett
"We continue to make more money when snoring than when active."

"The only value of stock forecasters is to make fortune-tellers look good."

"My favorite time frame is forever."

Peter Lynch
"Far more money has been lost by investors preparing for corrections, or trying to anticipate corrections, than has been lost in corrections themselves."

"I can't recall ever once having seen the name of a market timer on Forbes' annual list of the richest people in the world. If it were truly possible to predict corrections, you'd think somebody would have made billions by doing it."

Jason Zweig
"Whenever some analyst seems to know what he's talking about, remember that pigs will fly before he'll ever release a full list of his past forecasts, including the bloopers."

Charles Ellis
"'Market timing' is unappealing to long-term investors."

Jonathan Clements
"What to do when the market goes down? Read the opinions of the investment gurus who are quoted in the WSJ. And, as you read, laugh. We all know that the pundits can't predict short-term market movements. Yet there they are, desperately trying to sound intelligent when they really haven't got a clue."

Bernard Baruch
"Only liars manage to always be out during bad times and in during good times."

Mark Rieppe
"Market timing is impossible to perfect."

David L. Babson & Company
"It must be apparent to intelligent investors that if anyone possessed the ability to do so [forecast the immediate trend of stock prices] consistently and accurately he would become a billionaire so quickly he would not find it necessary to sell his stock market guesses to the general public."

Financial Publications
"Let's say it clearly: No one knows where the market is going-experts or novices, soothsayers or astrologers. That's the simple truth." -- *Fortune.

"A decade of results throws cold water on the notion that strategists exhibit any special ability to time the markets." ---* The Wall Street Journal.
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Old Dec 9, 2016, 11:14am   #52
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Charles Ellis

sigmund1 started this thread Was one of the best kept secrets on Wall St...Aggressive Fund Mangers cannot beat the market.

Charles Ellis credited as being the first industry insider to go public that managed fund managers will underperform the market over the long term.

Did that make Charley a whistle blower!

Wrote the book The Losers Game in in it's fifth print.

Noted research proves that money managers DO NOT possess any money making skills...message to Brother Paul and Stephen.

“The investment management business (it should be a profession but is not) is built upon a simple and basic belief: Professional money managers can beat the market. That premise appears to be false.”

Strange how slow the general public have been in learning that message.

As our Nan say's...Fools and Their Money.
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Old Dec 11, 2016, 12:55pm   #53
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Fading Stars

sigmund1 started this thread You might describe Star Manager Bill Miller of Legg-Mason as a fading star.

Brother Paul and Brother Stephen might want to take notes.

Bill Miller earned the reputation for out performing the SP500 INDEX for 15 consecutive years. No one else has ever managed such a feat.

Cue the cheer leaders.


That was back then and like all managed fund managers Bill's star started to fade until it was no more.

2008 saw the end of Bill's stellar performance, he hung in there for a few more years but unfortunately for Bill his edge was gone.

He'd gone from being the manager that could do no wrong to the guy who could do no right.

Bill and his clients had their 15 minutes in the sun but it's all a dimm faded memory now.

Mathematics and reality had caught up with him...ACTIVE FUND MANAGERS CANNOT BEAT THE INDEX'S FOREVER.

Last edited by sigmund1; Dec 11, 2016 at 6:43pm.
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Old Dec 14, 2016, 12:19pm   #54
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sigmund1 started this thread ISACO 121%.


ISACO's management fees, £3000 per year.

Tracker Fund fee's, around the cost of a fish and double chip take away!

Performance data found on ISACO's web site. Dec 1997 to Dec 2015.
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Old Dec 22, 2016, 7:08pm   #55
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Can't Find It!

sigmund1 started this thread I've looked and I've looked but it isn't there!

That is I've looked at the Brothers 2 books and can't find one word about it.

That's over 500 pages and not one reference, not one word...nothing, nuffing. nada, zilch, zero.

You would think this pair would only be to glad to boast about it, but seems not.

I'm talking about how they timed the run up to the 2000 bull market top and the market down turn into 2003.

But alas not one word...I wonder why?

Could it be that they made a pigs ear of it.

Could it be that their timing was worse than the 2007 market top.

So how about it Brother Stephen and Brother Paul.

Your silence is deafening!
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Old Dec 29, 2016, 12:37pm   #56
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ISACO vs SP500 Tracker Fund.

sigmund1 started this thread The Brothers ISACO claim on their web site that 7 years ending 31 Dec 2015 and following their hot shot fund picking methods...

£250.000 would have increased to £539.000.

Wow, Golly Gee-Whiz.

A typical numb-nut, passive SP500 TRACKER FUND would have increased to £657.000. Same period.


That's a whopping £118.000 more from the Tracker Fund.


It's even less for these poor little people who signed up to the ISACO lunatic mystery tour.


Management fees for the 7 years is £21,000.

Which means ISACO INVESTORS are £139.000 out of pocket.

And that's just in 7 years.


Last edited by sigmund1; Dec 30, 2016 at 12:17pm.
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