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Your Money Vault: Wise Up About Wall St.

Your Money Vault: Wise Up About Wall St.

Wednesday, June 05, 2013

In the credit union industry, we're used to hearing bad things about bankers. But this new article from Business Insider made even us CU veterans drop our jaws. Not only does author Lance Roberts say Wall Street analysts don't care about folks saving up for retirement, he calls Wall Street a pyramid scheme where those at the top make money at the expense of working Americans! The problem is financial advisers and analysts, who give advice to the public and individual investors based upon how well the picks would earn income for their firms. The article includes a telling chart that shows stock analyst compensation is based on prestige and profitability, not forecast accuracy.  Shockingly, accuracy ranked at the BOTTOM of the list! Read more at the link below, and when you're good and disgusted, click on the next link to learn more about investment services offered through Parsons Federal Credit Union. 

Business Insider link:  http://www.businessinsider.com/about-wall-street-analysts-2013-6
PFCU Investment Services link:  https://www.parsonsfcu.org/investment-services
PFCU Trust Services link:  https://www.parsonsfcu.org/trust-services