That's a bingo!! My only solution so far is making your boss your friend so at least you get to hang out 40 hours a week. And by that I mean he was my friend before and I decided to work for him hahaha
I had a moment like this once in my life about my career. After 5 years of dedication and reaching the upper echelons of the industry, I felt like I opened pandora's box in the field. It was like I opened the backdoor of the office and found out that all of the products we were making were built by slaves in a sweatshop. The entire industry was ripe with fraud from the top down. I never felt the same and left the industry shortly after as well.
One thing that turned me off of mutual funds was an experiment that a television station once did. They got a hold of 12 relatively well known and respected mutual fund managers, had them make a certain number of picks and pitted the results against picks made randomly by where a cat put it's paw on a newspaper stock page...The cat beat them all by an average of 11% return...
I've enjoyed it: great video, great story, a glimpse of what working in finance actually feels like, no wolf of wall street bullshit. I also happen to be reading Fight Club, weird coincidence.
Rudy, I love your channel. Like seriously, I stopped playing Magic about a year ago, so I stopped watching a lot of other MTG TH-camrs but your channel is so much more than that. Seriously thank you, I love your videos.
My moment was when I had the head of my Computer Science department at my university tell me that I should consider another major since I was failing my Calc. Class. I've loved Math all my life, Calc. was a new wall to overcome but it hit me... College wasn't for me. College... what it's become, is anything but scholarly. I had my head in the clouds wondering how all these young adults 18-25 can say, "Hey I'm going to just got school for 4-6 more years and hope I get a job in my field which may or may not meet my standard of living, yada yada yada, etc, etc". These kids will be in school until there late 20's, then possibly be in a HUGE amount of debt until there mid 30's in which then, they may realize that everything that was taught in school, is all but useless in the real world.
4 years late but really been feeling this myself as of late. I’m going to graduate at 22, but it feels like I’m wasting a year learning trivial information that I could be working full-time, because no one would hire someone without a college degree. I’d love to see what education is like in other countries.
"All this crap is a pile of shit" should be the slogan for Modern Masters 2017. I'm calling it now. Nothing you really wanted and everything you'll never need.
My moment came when I was 16 cutting grass for my Uncle during the summer. I would work all week just like the other employees but get paid half of what they made. When I asked him about it he said "You're a kid." I didn't argue how I was doing the same work. I just understood: His company he can do whatever he wants. I was at his mercy. From that moment on I've looked at everything as cost vs benefits. How much do I have to give versus how much I get. Knowing that w/e I don't control or understand is a risk.
Oh Rudy.. so naive. Never accept. Always question. That moment you realize you're working at a financial McDonald's... priceless, indeed. Thanks for the story!
Other than online, I have not played magic for a few years now, and have no real interest in investing in MTG, but I still watch your videos. Now I deliberately pick the videos on debt management and stock investing, because I am self employed as of a few months ago and both those things are are knowledge gaps I need to fill. Story time with Rudy teaches me more of what I really need to know than days of research on my own could.
Very true I started investing in my early 20s in mutual funds and I found out about what you talk about 7 years later and never went back , now i do my own research and buy individual blue chip companies for the long term (20-30 years) 👍🏻
One of my favorites so far. I've been going back checking out episodes I hadn't seen yet. So, in a pile of like, 10 videos I've watched, or had on in the background this weekend, this might be my favorite. And I actually AM here for Magic content!
This is one of the only videos in a long time that I have felt the need to login and talk about because it applies to all that I am working on in life right now. I can relate to all those books you have on that table and when you read from them in other videos; I too have had the pleasure of trying my hand at both technical analysis (bollingers, SMA, EMA, MACD, RSI, Candlestick patterns, etc.) and fundamental analysis (DCF, DDM, Financial statement horizontal and vertical analysis, relative valuation metrics, return on just about everything, etc). I have spent so much time attempting to uncover the best asset classes, be it equities, bonds, commodities, futures, options, forex, etc. It is so satisfying watching someone who has been through these advanced topics and also invests in Magic like myself. Let me say that I have a distrust in my heart for Wall Street, but I still believe there is value in mutual funds and ETFs. However, I agree that high expense ratios are complete bull shit. There's no reason you should pay over 0.5% (which is still kind of high) for a passively managed fund (it irritates me to no end that so many 401ks do not offer lower ratio funds). That said, while the expense ratio is crucial, often a mutual fund or ETF will save you commission costs associated with buying a bundle of stocks and the time of adjusting for index turnover so the expense ratio is well worth it in that light as long as it is kept to a fraction of a %. Also I think the CEO whose account you found might be a bit of an exception. I think most CEOs are heavily invested in stocks, first of all, and secondly I believe that CEOs in general are more likely to be active investors than passive investors. I find it nearly impossible to trust my money to another active manager, so I imagine the same is true for most CEOs - you won't find them in high expense ratio funds (which again, are bullshit - the Peter Lynchs of the world are far too rare or anomalies to justify such ridiculous ratios). You may find them in passive funds, but I find far more likely is that CEOs are more likely to research their own investments and choose individual positions than invest in an S&P tracking passively managed mutual fund, you know? TL;DR: I agree Wall Street and the whole financial advisory business as a whole is fucked up, but mostly because of the commission based nature of the business. I feel mutual funds hold value as long as you understand their expenses, holdings, and turnover (in general). Actively managed mutual funds are a waste of time (you're better off trying yourself and not paying that huge expense ratio), but passively managed mutual funds hold value since they reduce your total trading costs (expense ratio < commissions and realization of capital gains/losses upon rebalancing). CEOs are more likely to actively pick their own positions than passively invest (due to their education and experience), but the bulk of retail investors should passively invest. My two cents, at least.
This is one of your best episodes and definitely make more of them - you just cracked open the veil and released a view of the Krakon "that doesn't exist" and is "a conspiracy theory". Excellent job, continue to pass the hard acquired knowledge and eye openers, despite the view count it's the most appreciated video yet.
I only discovered your channel a few days ago, Rudy. I thought the MTG video were interesting, then i found this video. Best one i've watched, really interesting. More like this please
Rudy. You are appreciated and your moral compass is admirable. Every time I watch another one of your videos I find myself looking up to you as a mentor. It's odd because you just a stranger. Any ways thank you for all your hard work.
I used to have mutual funds. They were taking 2.4% in management fees annually. Once I realized the impact long term, I closed that account. But being a small investor, I do have to invest on the stock market. I can't make money with secure bonds giving pretty much no interest for small investors.
Rudy. Spinning off of what you said. What's your take on handling corporate 401k matches etc. particularly for me pension plan was no longer an option in 09. (I'm 22). What's your thought on this? Just put enough in a 401k to get a full match by the employer and invest the rest of your disposable income elsewhere? You're a smart man. I like your analytical pov. I look at situations the same way.
you are the coolest. keep rocking it. same thing happened to me a few years back now everything is just a fabrication to me. the system has been sold out to the highest bidders
Thank you Rudy, The fact that you shared this knowledge and want to help people see the truth is very commendable and the type of thing that attracts people to you and your channel. Honesty and good intention is in very high demand these days and you are definitely supplying it. I personally love these kind of videos even though they seemingly have very little to do with MTG because these videos expose people to new ideas and concepts, and may even lead people down a better path of prosperity and knowledge. Keep lighting the way Rudy because this world is full of darkness and we need people like you to reveal what lurks in the shadows and inspire others to do the same.
The First rule of Rudy´s Brokerage firm club is: You do not talk about Rudy´s brokerage firm club. The Second rule of Rudy´s Brokerage firm Club is: You DO NOT talk about Rudy´s brokerage firm club. The Third rule of Rudy´s Brokerage firm Club is: You Never Invest in Mutual funds I need help To add other Rules.
We were pitching Blackrock Global A Shares, All Day, Every Day... Aggressive investor - Blackrock Global A Shares, Moderate investor - you also get Blackrock Global A shares, Conservative investor - we got aspecial, its called Blackrock Global A shares.
I do sales for a living, and have pitched so many shifty products over the years. It's ironic for me to hear that even in the ivory towers it's always a hustle
Brother, knowledge, wisdom, and education are all completely different things.....preach & teach your wisdom...I'm listening and taking notes. Love this video. I look forward to more like it.
I had a similar moment while I was in business school, I had a very good education with smart professors and when I started asking hard questions about investment correlation and the 1st assumptions the whole illusion fell apart at the seams.
Thanks for sharing, appreciate this type of content! - I want to encourage you to put a little more journalistic effort in it and maybe show the terms (on paper / as graphics in the video) and all the little tricks you used while selling these products etc., now that you can openly talk about it.., not that this video was bad - but I'd think that videos with even more detailed information would help. Also I didn't quite get why the CEOs products didn't tank? If the following is true, you probably should have made it even clearer in the video: The CEO told everybody to sell housing-based/mortgage products, but didn't own any of them himself (already knowing they were garbage (pre-crisis))?!
7:53 This are the Videos that wanna make me change the world. I know I am single person. I am not a hero, I am a timmy with hopes and dreams, but I also died alot in the past 36 years. A that gave me the sword of cutting through bs and very thick hide! Thanks Rudy for making this Vid!
In the mid-2000’s I worked for a regional drug store chain. In my 401k, I selected low risk which ended up being treasury bonds. I’m pretty sure I was the only one that selected this option as everyone made it known that 2008 was a bloodbath, meanwhile; I was still collecting 2% interest. What made things worse is the company folded and many of the workers had lost some of there investment on top of the company’s contribution. The reason why you sell a mutual fund to people is because they generally don’t have time to trade or even investigate stocks. Mutual funds are meant for the long game. They go up and down, but in the end you hope you get the 11% ROI. Recessions are great for people that have a little capital to invest and knowledge to know what is being sold as a panic.
Bionicle Forever well company went under in the recession in 2010. Laid off in 2009 and 2010 from it. Rolled the money over to an IRA at medium risk (American Funds). Given I get a pension at my new job, I’m just going to leave it there for 25 more years (35 total). Also knew eventually the recession was going to end and since 2012 it’s averaged 18-20%. Although it will likely take a beating in the next couple of years it’s solid.
Rudy... I know you say you don't really get to read all the comments. But the videos like this they help so much. Because as a stupid kid who is just starting to invest and look in at money and what to do to make it work better for me. This helps tremendously. Looking online even at the differences in the accounts and everything. It still makes mutual funds appear like a good bet. And thank you so much for making it so that I didn't make a huge mistake. And I greatly appreciate your straight finance videos, just as much as the magic product videos.
These stories about your time in the corporate investment world are my favorite videos. I only casually understand that stuff, and its nice to get a former insider's perspective on that world. Especially since you are great at breaking it down in layman's terms with analogies we all get (MTG).
Rudy. My name is Stephen Gonzales I am an analyst for the United States Army and this is how I feel about our whole way of life and the "system". It's really mind numbing when a person's reality comes crashing down on them most people can't take it. We have become players who see that they are actually on a board. Now that we have acknowledged this we need to use this information to our advantage.
I feel for you Rudy. I had to bail from an isurance sales job under similar conditions. It kinda feels like being DEA after the pols legalized weed in DC.
Fantastic video. This just popped up for me and I’ve watched a lot of you more recent videos, but I haven’t gone back towards the beginning yet. Amazing perspective as always.
this is a very educational video. I think folks who don't follow MTG should see this if they want to get into the business of brokerage firms (just an extra thing to know before heading in).
Thank you for having the intellectual conversation. I enjoy your characters and magic knowledge, but sharing real world knowledge is something I am even more appreciative of.
Thank you for talking about this Rudy. Many people won't appreciate it, but your real fans will. Please talk more about what you learned about investing. It's very educational! Thank you!
this is interesting. Now i understand why in the opening of your previous videos you talked about mutual funds and asked rethorically what is so special or peculiar about them that made them different from other invesment vehicules. It´s because mutual funds arent about spreading and mimizing risk and all that bs, its about the fees they are charging you that you may not even know about. Its a very expensive money parking lot, and the people at the top who know this obviously dont own any of them, and to avoid income tax they instead turn to municipal bonds for instance ( or create shell companies in panama).
Rudy, thank you for posting this. I now see the standpoint you are coming from, but alas, I still disagree on certain points. Most Vanguard/T.Rowe price/Fidelity index based funds have an expense ratio of less than 0.25%, not anywhere near 1%...and no, I do not work or represent any of them. That said, you bring up valid points, but the reason a CEO can afford to invest strictly in bonds without any kind of long term growth/risk potential is simply because he has more money to invest overall. The average person cannot ignore the potential returns of the stock market and invest solely in bonds. Inflation and taxes (if applicable) alone would nearly kill any kind of returns for the average person who makes under $100,000 a year. Just my two cents, but your points are valid....for you.
you could seriously have a serperate channel just for this and I'd listen/watch every episode. I'm just getting to the point where I'll be making enough money to start seriously putting away some and this is very useful. thank you.
Even though I haven't heard a lick of the terms you use Rudy. You always manage to keep me interested with everything you put out here because I believe you're genuine smart and even caring person. Thank you for busting your ass putting out content for us. Thank you for keeping everything you. Thank you for being part of the magic community and thank you for trying to help people understand how this side of the world works.
great video, glad to see someone else telling people about the how it really is. I feel bad for all those people who do not know about these things and end up getting taken advantage of. Also with 10 million it would be really dumb to not have a laddered bond portfolio. The issue i think is the most concerning is that people can not get to a level where bonds are producing enough where your buying more bonds so people have to somehow either increase their salary which is the only real way to grow your account or they have to get lucky with exposure in the equity market.Thanks for the video keep them coming.
I can't wait to see your videos on mutual funds and different avenues of investing Rudy. C: I've really been confused on why you didn't like mutual funds and why you shouldn't invest in them, but now I get it.
![[LIVE] MCHOICE & MINT AWARDS 2024 at TRUE ICON HALL, ICONSIAM](http://i.ytimg.com/vi/wMewUeT5nbY/mqdefault.jpg)
These video's are starting to make me question more and more why I still work 9 hours a day so that my boss can get rich...
That's a bingo!!
My only solution so far is making your boss your friend so at least you get to hang out 40 hours a week. And by that I mean he was my friend before and I decided to work for him hahaha
Make sure to take shits on company time.
I had a moment like this once in my life about my career. After 5 years of dedication and reaching the upper echelons of the industry, I felt like I opened pandora's box in the field. It was like I opened the backdoor of the office and found out that all of the products we were making were built by slaves in a sweatshop. The entire industry was ripe with fraud from the top down. I never felt the same and left the industry shortly after as well.
Which industry? Financial?
I'm curious to know this too.
Rudy...we aren't suppose to talk about Fight Club...
thats right. .NO1 rule
also the N02 rule
by you saying that, you're talking about it.... OFF WITH YOUR BALLS!
NoobyRussian his name was Robert Paulson
One thing that turned me off of mutual funds was an experiment that a television station once did. They got a hold of 12 relatively well known and respected mutual fund managers, had them make a certain number of picks and pitted the results against picks made randomly by where a cat put it's paw on a newspaper stock page...The cat beat them all by an average of 11% return...
i have two cats, i should be rich!
I'm pretty sure you just talked about fight club LOL; I'm gonna see if this cat method works for building EDH Decks.
This is why you avoid managed funds like the plague. Index funds or GTFO. Lower fees and better returns.
How can there be a dislike when people haven't even had time to watch half the video? There are assholes out there.
Probably some CEO.
Slapp probably cause the pretentious open books in random pages everywhere.
I've enjoyed it: great video, great story, a glimpse of what working in finance actually feels like, no wolf of wall street bullshit. I also happen to be reading Fight Club, weird coincidence.
Because he's a fucking lunatic
Slapp people get salty REAL fast. a guy was trashing him on his Vintage review video and it was ridiculous and unfounded.
h8rs Gon h8 as they say.
Rudy, I love your channel. Like seriously, I stopped playing Magic about a year ago, so I stopped watching a lot of other MTG TH-camrs but your channel is so much more than that. Seriously thank you, I love your videos.
My moment was when I had the head of my Computer Science department at my university tell me that I should consider another major since I was failing my Calc. Class. I've loved Math all my life, Calc. was a new wall to overcome but it hit me...
College wasn't for me. College... what it's become, is anything but scholarly. I had my head in the clouds wondering how all these young adults 18-25 can say, "Hey I'm going to just got school for 4-6 more years and hope I get a job in my field which may or may not meet my standard of living, yada yada yada, etc, etc".
These kids will be in school until there late 20's, then possibly be in a HUGE amount of debt until there mid 30's in which then, they may realize that everything that was taught in school, is all but useless in the real world.
Such an American comment :P
@@Chris-ci8vs Hey Chris! I am from America. And this is a reality most American students live with.
@@andyruvalcaba7275 more American kids need to be getting an education from outside the US, where it's free.
4 years late but really been feeling this myself as of late. I’m going to graduate at 22, but it feels like I’m wasting a year learning trivial information that I could be working full-time, because no one would hire someone without a college degree. I’d love to see what education is like in other countries.
Very interesting video. Knowing nothing about this kinda stuff, but i enjoyed being explained it in a way that i could comprehend
My nephew showed me this; I think you're awesome for telling the truth. Keep up the good fight.
I just picture adorable, naive Rudy staring at the screen going, " but... But..... Mutual funds..."
I Am Rudy's Complete Lack of Surprise
"All this crap is a pile of shit" should be the slogan for Modern Masters 2017. I'm calling it now. Nothing you really wanted and everything you'll never need.
Do you still agree with that statement, or do you wish to change your statement?
I never trusted mutual funds and now I actually have a reason why beyond just a gut feeling. Thanks Rudy!
My moment came when I was 16 cutting grass for my Uncle during the summer. I would work all week just like the other employees but get paid half of what they made. When I asked him about it he said "You're a kid." I didn't argue how I was doing the same work. I just understood: His company he can do whatever he wants. I was at his mercy. From that moment on I've looked at everything as cost vs benefits. How much do I have to give versus how much I get. Knowing that w/e I don't control or understand is a risk.
Oh Rudy.. so naive.
Never accept. Always question.
That moment you realize you're working at a financial McDonald's... priceless, indeed.
Thanks for the story!
lol flashback
Watching this 7 years later. TH-cam gold. Not attention distracting videos. I can say I learned something very important today.
These are my favorite videos of yours Ruby. Watching them all again for a reminder.
Other than online, I have not played magic for a few years now, and have no real interest in investing in MTG, but I still watch your videos. Now I deliberately pick the videos on debt management and stock investing, because I am self employed as of a few months ago and both those things are are knowledge gaps I need to fill. Story time with Rudy teaches me more of what I really need to know than days of research on my own could.
Very true I started investing in my early 20s in mutual funds and I found out about what you talk about 7 years later and never went back , now i do my own research and buy individual blue chip companies for the long term (20-30 years) 👍🏻
One of my favorites so far. I've been going back checking out episodes I hadn't seen yet. So, in a pile of like, 10 videos I've watched, or had on in the background this weekend, this might be my favorite. And I actually AM here for Magic content!
Thank you for the video, Rudy, this material is important. I think one like this every couple months or something could be a good thing.
you don't see people working 9-5 end up CEOs or famous.
the movie "the big short" was about you huh.
fantastic movie!! the 'ludacris szene' is just l o l
loved it. fantastically done and so much different than the other McKay movies. It was of course much more serious than say Anchorman.
This is one of the only videos in a long time that I have felt the need to login and talk about because it applies to all that I am working on in life right now. I can relate to all those books you have on that table and when you read from them in other videos; I too have had the pleasure of trying my hand at both technical analysis (bollingers, SMA, EMA, MACD, RSI, Candlestick patterns, etc.) and fundamental analysis (DCF, DDM, Financial statement horizontal and vertical analysis, relative valuation metrics, return on just about everything, etc). I have spent so much time attempting to uncover the best asset classes, be it equities, bonds, commodities, futures, options, forex, etc. It is so satisfying watching someone who has been through these advanced topics and also invests in Magic like myself.
Let me say that I have a distrust in my heart for Wall Street, but I still believe there is value in mutual funds and ETFs. However, I agree that high expense ratios are complete bull shit. There's no reason you should pay over 0.5% (which is still kind of high) for a passively managed fund (it irritates me to no end that so many 401ks do not offer lower ratio funds). That said, while the expense ratio is crucial, often a mutual fund or ETF will save you commission costs associated with buying a bundle of stocks and the time of adjusting for index turnover so the expense ratio is well worth it in that light as long as it is kept to a fraction of a %.
Also I think the CEO whose account you found might be a bit of an exception. I think most CEOs are heavily invested in stocks, first of all, and secondly I believe that CEOs in general are more likely to be active investors than passive investors. I find it nearly impossible to trust my money to another active manager, so I imagine the same is true for most CEOs - you won't find them in high expense ratio funds (which again, are bullshit - the Peter Lynchs of the world are far too rare or anomalies to justify such ridiculous ratios). You may find them in passive funds, but I find far more likely is that CEOs are more likely to research their own investments and choose individual positions than invest in an S&P tracking passively managed mutual fund, you know?
TL;DR: I agree Wall Street and the whole financial advisory business as a whole is fucked up, but mostly because of the commission based nature of the business. I feel mutual funds hold value as long as you understand their expenses, holdings, and turnover (in general). Actively managed mutual funds are a waste of time (you're better off trying yourself and not paying that huge expense ratio), but passively managed mutual funds hold value since they reduce your total trading costs (expense ratio < commissions and realization of capital gains/losses upon rebalancing). CEOs are more likely to actively pick their own positions than passively invest (due to their education and experience), but the bulk of retail investors should passively invest. My two cents, at least.
This is one of your best episodes and definitely make more of them - you just cracked open the veil and released a view of the Krakon "that doesn't exist" and is "a conspiracy theory".
Excellent job, continue to pass the hard acquired knowledge and eye openers, despite the view count it's the most appreciated video yet.
I only discovered your channel a few days ago, Rudy. I thought the MTG video were interesting, then i found this video. Best one i've watched, really interesting. More like this please
Rudy. You are appreciated and your moral compass is admirable. Every time I watch another one of your videos I find myself looking up to you as a mentor. It's odd because you just a stranger. Any ways thank you for all your hard work.
I used to have mutual funds. They were taking 2.4% in management fees annually. Once I realized the impact long term, I closed that account. But being a small investor, I do have to invest on the stock market. I can't make money with secure bonds giving pretty much no interest for small investors.
Probably one of his best videos but sadly, most people clicked off after 2 minutes and went back to their bullshit lives instead of learning lol
Rudy so good at storytelling damn, the whole financial system is a strange vortex
Rudy. Spinning off of what you said. What's your take on handling corporate 401k matches etc. particularly for me pension plan was no longer an option in 09. (I'm 22). What's your thought on this? Just put enough in a 401k to get a full match by the employer and invest the rest of your disposable income elsewhere? You're a smart man. I like your analytical pov. I look at situations the same way.
this video was great, I got to be honest. it cleares up some things for me as a finance student
Thank you for putting this information out there and leaving it up. You're doing us all a service. Youre a saint!
can you make a "the big short" movie review?
If you continue to talk about CEO/ brokerage/ funds/ stocks / bonds / markets, I will subscribe.
Magic and money, two of my biggest passions, I will be a lifelong subscriber. Would love to whiskey and discuss at length about stuff with rudy
you are the coolest. keep rocking it. same thing happened to me a few years back now everything is just a fabrication to me. the system has been sold out to the highest bidders
Interesting, as a 3rd Finance student this is definitely eye-opening.
thank you Rudy.
Thanks for this Rudy! Awesome to know. I'll be looking into bonds. Good thing I haven't jumped into investing quite yet.
Thank you Rudy,
The fact that you shared this knowledge and want to help people see the truth is very commendable and the type of thing that attracts people to you and your channel.
Honesty and good intention is in very high demand these days and you are definitely supplying it. I personally love these kind of videos even though they seemingly have very little to do with MTG because these videos expose people to new ideas and concepts, and may even lead people down a better path of prosperity and knowledge.
Keep lighting the way Rudy because this world is full of darkness and we need people like you to reveal what lurks in the shadows and inspire others to do the same.
Creepy, I posted my comment, then checked recent comments to see if these old videos are still being watched, and I see your comment.
Hi young Rudy from 2016. This is Damian from the future in 2021, brought here by the TH-cam algorithm. This video still slaps.
I walked in to the screen on my sliding glass door and knocked it completely off.
The First rule of Rudy´s Brokerage firm club is: You do not talk about Rudy´s brokerage firm club.
The Second rule of Rudy´s Brokerage firm Club is: You DO NOT talk about Rudy´s brokerage firm club.
The Third rule of Rudy´s Brokerage firm Club is: You Never Invest in Mutual funds
I need help To add other Rules.
The Fourth rule of Rudy’s brokerage firm club is: Always keep your taco well sleeved
So is there a follow up to this video? Because i would love to learn more.
We were pitching Blackrock Global A Shares, All Day, Every Day... Aggressive investor - Blackrock Global A Shares, Moderate investor - you also get Blackrock Global A shares, Conservative investor - we got aspecial, its called Blackrock Global A shares.
I do sales for a living, and have pitched so many shifty products over the years. It's ironic for me to hear that even in the ivory towers it's always a hustle
Please keep doing these types of videos. I like magic but I watch for this type of content. Thank you for the great videos.
Man, I hope you start going deep like this again, maybe go deeper and talk about tranches and how things get re packaged. That would be sick
"Calling up on their TI-83 calculators." Hilarious.
Brother, knowledge, wisdom, and education are all completely different things.....preach & teach your wisdom...I'm listening and taking notes. Love this video. I look forward to more like it.
I had a similar moment while I was in business school, I had a very good education with smart professors and when I started asking hard questions about investment correlation and the 1st assumptions the whole illusion fell apart at the seams.
Thanks for the advice.
Thanks for sharing, appreciate this type of content! - I want to encourage you to put a little more journalistic effort in it and maybe show the terms (on paper / as graphics in the video) and all the little tricks you used while selling these products etc., now that you can openly talk about it.., not that this video was bad - but I'd think that videos with even more detailed information would help. Also I didn't quite get why the CEOs products didn't tank? If the following is true, you probably should have made it even clearer in the video: The CEO told everybody to sell housing-based/mortgage products, but didn't own any of them himself (already knowing they were garbage (pre-crisis))?!
7:53 This are the Videos that wanna make me change the world. I know I am single person. I am not a hero, I am a timmy with hopes and dreams, but I also died alot in the past 36 years. A that gave me the sword of cutting through bs and very thick hide! Thanks Rudy for making this Vid!
In the mid-2000’s I worked for a regional drug store chain. In my 401k, I selected low risk which ended up being treasury bonds. I’m pretty sure I was the only one that selected this option as everyone made it known that 2008 was a bloodbath, meanwhile; I was still collecting 2% interest. What made things worse is the company folded and many of the workers had lost some of there investment on top of the company’s contribution. The reason why you sell a mutual fund to people is because they generally don’t have time to trade or even investigate stocks. Mutual funds are meant for the long game. They go up and down, but in the end you hope you get the 11% ROI. Recessions are great for people that have a little capital to invest and knowledge to know what is being sold as a panic.
Hows your 401ks now
Bionicle Forever well company went under in the recession in 2010. Laid off in 2009 and 2010 from it. Rolled the money over to an IRA at medium risk (American Funds). Given I get a pension at my new job, I’m just going to leave it there for 25 more years (35 total). Also knew eventually the recession was going to end and since 2012 it’s averaged 18-20%. Although it will likely take a beating in the next couple of years it’s solid.
Rudy... I know you say you don't really get to read all the comments. But the videos like this they help so much. Because as a stupid kid who is just starting to invest and look in at money and what to do to make it work better for me. This helps tremendously. Looking online even at the differences in the accounts and everything. It still makes mutual funds appear like a good bet. And thank you so much for making it so that I didn't make a huge mistake. And I greatly appreciate your straight finance videos, just as much as the magic product videos.
These stories about your time in the corporate investment world are my favorite videos. I only casually understand that stuff, and its nice to get a former insider's perspective on that world. Especially since you are great at breaking it down in layman's terms with analogies we all get (MTG).
Another hit over the fence. 'I used a basesball reference for the Americans out there' Keep up the great work love the set pieces.
Rudy has honestly taught me so much, it's insane
Rudy. My name is Stephen Gonzales I am an analyst for the United States Army and this is how I feel about our whole way of life and the "system". It's really mind numbing when a person's reality comes crashing down on them most people can't take it. We have become players who see that they are actually on a board. Now that we have acknowledged this we need to use this information to our advantage.
I feel for you Rudy. I had to bail from an isurance sales job under similar conditions. It kinda feels like being DEA after the pols legalized weed in DC.
Fantastic video. This just popped up for me and I’ve watched a lot of you more recent videos, but I haven’t gone back towards the beginning yet. Amazing perspective as always.
this is a very educational video. I think folks who don't follow MTG should see this if they want to get into the business of brokerage firms (just an extra thing to know before heading in).
Dammit Rudy, you had to tell the Timmy's.
GodDogofVice we timmies have a right to know
Damn...what a story. I've definitely had that moment where it made me rethink my life up to that point and let me see things in a different way.
Thank you for having the intellectual conversation. I enjoy your characters and magic knowledge, but sharing real world knowledge is something I am even more appreciative of.
Excellent video. Your content is always entertaining and education.
glad to know the ceo and i both had a good taste in solid muni bonds. never believed in alternative investments such as mutual funds.
btw hi from 2022
Fight Club........I was never the same after watching this movie.
good story rudy i'm going to share this with two friends that are buisness/finance majors
Thank you for talking about this Rudy. Many people won't appreciate it, but your real fans will. Please talk more about what you learned about investing. It's very educational! Thank you!
Got an ad for some Goldman-Sachs program. How ironic.
Thanks Rudy!
former broker checking in - this man speaks the truth. the day you peek behind the curtain is the day you become woke.
nice information, i moved my retirement account from mutal funds to index accounts and ive seen better returns, thank you rudy.
Excellent. For me, this video is what watching Rudy was all leading up to. Loved it, hope to hear more.
this is interesting. Now i understand why in the opening of your previous videos you talked about mutual funds and asked rethorically what is so special or peculiar about them that made them different from other invesment vehicules. It´s because mutual funds arent about spreading and mimizing risk and all that bs, its about the fees they are charging you that you may not even know about. Its a very expensive money parking lot, and the people at the top who know this obviously dont own any of them, and to avoid income tax they instead turn to municipal bonds for instance ( or create shell companies in panama).
Rudy, thank you for posting this. I now see the standpoint you are coming from, but alas, I still disagree on certain points. Most Vanguard/T.Rowe price/Fidelity index based funds have an expense ratio of less than 0.25%, not anywhere near 1%...and no, I do not work or represent any of them. That said, you bring up valid points, but the reason a CEO can afford to invest strictly in bonds without any kind of long term growth/risk potential is simply because he has more money to invest overall. The average person cannot ignore the potential returns of the stock market and invest solely in bonds. Inflation and taxes (if applicable) alone would nearly kill any kind of returns for the average person who makes under $100,000 a year. Just my two cents, but your points are valid....for you.
you could seriously have a serperate channel just for this and I'd listen/watch every episode.
I'm just getting to the point where I'll be making enough money to start seriously putting away some and this is very useful. thank you.
This is information that is finally becoming common knowledge. Tony Robins' most recent book go over this exact thing in detail.
Wow as a Magic fan and former Forex and stocks trader I really appreciate these types of videos
I had no idea how the stock market really works. .you give a great insight into the whole shadey world..
Even though I haven't heard a lick of the terms you use Rudy. You always manage to keep me interested with everything you put out here because I believe you're genuine smart and even caring person. Thank you for busting your ass putting out content for us. Thank you for keeping everything you. Thank you for being part of the magic community and thank you for trying to help people understand how this side of the world works.
Just remember that Wizard is at the top of Ivory tower for MTG. See a parallel with CEOs? Why are they not investing in the secondary market?
Thank you
Great video Rudy! I have been looking forward to hearing the story behind your distaste for mutual funds.
I see the kaladesh box, time to upvote. And now to watch the rest of the video.
Glad you shared this! I love these general investment type vids
Thanks for making this video Rudy, great information and a great story!!!
Thank you for the video Rudy
sub 53,400?? You've picked up over 200 Subscribers in the past day... Nice growth there...
thanks for sharing more of your financial history. Great story!
Dude...I'm glad you shared these thoughts.
great video, glad to see someone else telling people about the how it really is. I feel bad for all those people who do not know about these things and end up getting taken advantage of. Also with 10 million it would be really dumb to not have a laddered bond portfolio. The issue i think is the most concerning is that people can not get to a level where bonds are producing enough where your buying more bonds so people have to somehow either increase their salary which is the only real way to grow your account or they have to get lucky with exposure in the equity market.Thanks for the video keep them coming.
if i had 10 million dollars, i would buy a nice piece of land, and buy water and food for the next 100 years
Picked up a shirt Rudy, keep fighting the good fight.
The algorithm is just showing me this now. Shit is crazy.
Time is relative.
@@LifeWasGood Oh frick yeah.
I can't wait to see your videos on mutual funds and different avenues of investing Rudy. C: I've really been confused on why you didn't like mutual funds and why you shouldn't invest in them, but now I get it.
This video Rudy, this is why I'm here. RUDY TO THE MOON!!!!! STAY THE COURSE!!!!!
I learn and am entertained. THis channel rocks. BTw the greatest so called investment fraud is insurance!
Spoiler about the Fight club:
The girl was also an alter ego.