....American investors: Predictably stupid losers...America's 95 million investors are clueless sheep headed for the slaughterhouse. ...

[link to www.marketwatch.com]

American investors: Predictably stupid losers

Commentary: Obama backs status quo, helping Wall Street skim hundreds of billions
By Paul B. Farrell, MarketWatch

ARROYO GRANDE, Calif. (MarketWatch) -- Yes, I am mad as hell again. Wall Street's soulless, immoral, greedy bankers really believe that the vast majority of America's 95 million investors are not only "predictably irrational" but "stupid," as J.P. Morgan Chase's chief investment officer put it in Forbes a while back.

Worse, Main Street investors are losers for continuing to trust Wall Street after they lost 20% of our retirement money the last decade. Now, worst of all, Wall Street's traders have profiled Main Street investors in their algorithms: Yes, investors are "predictably stupid losers," what Vegas croupiers call a mark, a dumb gambler that can be easily conned out of his money.


Detecting fraud's early warning signs. Investors and financial advisers always need to watch out for companies engaging in fraud and deceit. Howard Schilit, founder and CEO at Financial Shenanigans Detection Group, describes some of the early warnings signs of accounting tricks and gimmicks companies use to manipulate their financial statements. Steven Russolillo has the interview from the CFA Institute conference.
Why so blunt? Listen: Recently I explained why the Wall Street banks must kill financial reform, to preserve their multibillion dollar bonus pool. One reader commented: "I worked at the Bear Sterns ... every word written here is true. Fact is, bankers regard themselves as wolves and the public as prey, and speak about it openly, among themselves." Then he added a sucker punch: "What is extraordinary to me is how willingly the sheep submit to this."

Yes, folks, Wall Street is certain that America's 95 million investors are clueless sheep headed for the slaughterhouse.