Has anyone seen my specialty plates?

[Peacefrog]

Sorry, someone from wealth management that carries the name Goldman Sachs, JPM, BoA, etc etc etc may make mistakes, may cost you a little of your money, but they aren't going to make terrible investments/loans into small time start up opportunities or whatever else these guys invest in.

He could have taken his $100MM, given it GS (or any of the others) and cashed somewhere between 5-10% every single year without a penny going away. That 30th bday part would be a drop in the bucket, heck even buying 160 airplane seats wouldn't do much.

Just not Wells Fargo. You never know what those guys will do.

 

[Eight]

Sorry, someone from wealth management that carries the name Goldman Sachs, JPM, BoA, etc etc etc may make mistakes, may cost you a little of your money, but they aren't going to make terrible investments/loans into small time start up opportunities or whatever else these guys invest in.

He could have taken his $100MM, given it GS (or any of the others) and cashed somewhere between 5-10% every single year without a penny going away. That 30th bday part would be a drop in the bucket, heck even buying 160 airplane seats wouldn't do much.

remind me of what happened with goldman and the investment banking world with the subprime mortgages.......but these are highly trained professionals who don't make terrible investments right?

adrian should have simply hired a trained professional. not as if you can simply find cases of wealthy people being defrauded by brokers and investment advisors on a regular basis.

oh, and i attached a couple of jpm footnotes

https://biglawbusiness.com/ex-jpmorgan-trader-pleads-guilty-in-six-year-spoofing-plot-2

https://www.reuters.com/article/us-...don-whale-debacle-not-his-fault-idUSKCN0VW2B0

paying to ride on camels for your birthday and loaning money to family is far, far worse though

 

[Mean Purple]

remind me of what happened with goldman and the investment banking world with the subprime mortgages.......but these are highly trained professionals who don't make terrible investments right?

adrian should have simply hired a trained professional. not as if you can simply find cases of wealthy people being defrauded by brokers and investment advisors on a regular basis.

oh, come on. certainly there is nothing wrong with pumping a loan on a 600,000 dollar home for a family with an income of 35G ...

 

[Eight]

oh, come on. certainly there is nothing wrong with pumping a loan on a 600,000 dollar home for a family with an income of 35G ...

primary residence or their second investment property and third home in total?

 

[jake102]

remind me of what happened with goldman and the investment banking world with the subprime mortgages.......but these are highly trained professionals who don't make terrible investments right?

adrian should have simply hired a trained professional. not as if you can simply find cases of wealthy people being defrauded by brokers and investment advisors on a regular basis.

How many GS or other IB wealth management divisions invested their clients exclusively in subprime mortgages? Comparing the job/responsibility of someone in wealth management to the guys making subprime mortgages is non-sensical.

Good luck finding me examples of large institutions losing 100% of their clients money

 

[Purp]

Well...not really. You can do the math pretty easily. It’s probably around $50k. It’s hard to say how much his bday party cost, but I bet it’s north of $25k and probably close to the $50k. I used that as example to illustrate that this is someone who is careless with his money - and not someone who was a great steward of his finances that just trusted the wrong person, or got in a few bad deals. That has nothing to do with trusting the wrong person. Did that happen - definitely. But as you said, it all falls back to the person who earned that money for not being smart. And the 7 children with 5 women didn’t help either. Also, not smart.

I bet you've attended plenty of weddings that cost more than that for friends whose parents make far less than AP has over the last decade. Not trying to argue with you; just pointing out that a single party in the price range hardly stands out to me as an indicator of chronic reckless spending.

 

[Eight]

How many GS or other IB wealth management divisions invested their clients exclusively in subprime mortgages? Comparing the job/responsibility of someone in wealth management to the guys making subprime mortgages is non-sensical.

Good luck finding me examples of large institutions losing 100% of their clients money

so cratering a couple of national economies, costing people billions of dollars in lost savings, etc... is better than losing all of a persons money?

none of those decisions were made in a vacuum and made by a single person.

subprime was just one as i linked two other cases from jpm in which again you have institutional corruption.

do you really want to take the stance that the big banks and investment houses have a track record of truly acting in the best interest of their clients above their own interests?

remind me again who spent all that freaking money so congress would roll back glass-stegall and why they wanted those rules out of the way?

tell me how commodity trading is so much better now that the old rules are gone that tried to limit speculating and market manipulation.

my original point is that while you make it sound so simple to just decide upon an investment advisor or wealth manager this competent or can be trusted you can simply go to the various industry regulatory sites and find a steady stream of advisors/ wm who are guilty of fraud and/or incompetence .

doesn't mean they shouldn't try, but it does mean there is a degree of peril.

 

[jake102]

You are confusing things and mixing concepts. My only point is that a wealthy athlete such as AP should give their money (or at least a chunk of it) to a reputable, big name wealth management firm. Even if a specific fund manager within the division commits fraud, loses the money, burns it, throws it off the building, etc, the firm will make the person whole to avoid litigation. But in reality these places have safeguards, blah blah blah. This is simple.

I made no representations about most of the things you said. Try using capital letters and paragraphs.

 

[HFrog1999]

Sorry, someone from wealth management that carries the name Goldman Sachs, JPM, BoA, etc etc etc may make mistakes, may cost you a little of your money, but they aren't going to make terrible investments/loans into small time start up opportunities or whatever else these guys invest in.

He could have taken his $100MM, given it GS (or any of the others) and cashed somewhere between 5-10% every single year without a penny going away. That 30th bday party would be a drop in the bucket, heck even buying 160 airplane seats wouldn't do much.

 

[Eight]

You are confusing things and mixing concepts. My only point is that a wealthy athlete such as AP should give their money (or at least a chunk of it) to a reputable, big name wealth management firm. Even if a specific fund manager within the division commits fraud, loses the money, burns it, throws it off the building, etc, the firm will make the person whole to avoid litigation. But in reality these places have safeguards, blah blah blah. This is simple.

I made no representations about most of the things you said. Try using capital letters and paragraphs.

let me guess, you work for a large wealth management firm.

the arbitration clauses most wealth advisory firms use be them large or small do not come close to making people whole, financial crime in most cases is treated as an after thought and the idea that safety and quality can be found in the size of the wealth firm is akin to mcdonald's making the best burgers because they sell the most and have the most stores.

what i do agree with is that most people do need financial help and for someone as peterson who is making millions and faces taxes challenges (multiple taxing authorities, deferred income), future planning issues, etc... does not professional help.

what he isn't most likely equipped to do is weed through all the candidates and make the choice which isn't a surprise as i have laid out multiple times now it is a decision even those who group out around wealth struggle making at times.

 

[jake102]

I do not. The simple fact that wealth advisory firms have arbitration clauses proves the only point I was trying to make.

 

[netty2424]

Some of these guys, you can just look at them and tell they’re stupid and potentially irresponsible, but Adrian Peterson doesn’t have the look of an irresponsible guy. Wouldn’t have guessed it with him.

I think the Baby to Momma ratio is a decent indicator. Certainly not absolute, but definitely something to consider.

 

[Peacefrog]

Boobs.

 

[Eight]

I do not. The simple fact that wealth advisory firms have arbitration clauses proves the only point I was trying to make.

you think firms require the inclusion of the mandatory clause as a protection for the investors?

you seriously believe this to be true

 

[Peacefrog]

You two should quit before HASMSP ends up on the General bored.


I know it’s spelled wrong.

 

[jake102]

You two should quit before HASMSP ends up on the General bored.


I know it’s spelled wrong.

I'm not going any further. I hate the offseason (of all sports except MLB). July and early August are such a beating

 

[Eight]

You two should quit before HASMSP ends up on the General bored.


I know it’s spelled wrong.

or was it spelled wrong?

 

[Boomhauer]

You two should quit before HASMSP ends up on the General bored.


I know it’s spelled wrong.

Ha, when I first clicked on this thread I honestly thought it was it’s own thread. Didn’t realize I had clicked on HASMSP. Hello e-friends!

 

[Purp]

You two should quit...

I only see one. Guessing Boner is going full finance wonk and making pointless points again?

 

[Mean Purple]

Boobs.

Peace, I have re read this post about 5 different times this afternoon. lmao! It really brightened my day.