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davidrmoran

Too cynical for me, and not in accord with my (long) experience in business or finance. Wondering if you know many fund managers; I do a few. All my questions are serious, although you may be one who simply enjoys or automatically leans toward impugning; interesting you take an assertion being challenged as being combatted. Whatever. You wrote what you wrote. I called you on it. That's all.

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davidrmoran
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  • The deliberate misrepresentation of the SS Trust Fund (and the press' inability to report accurately) is all too common.

    You can see how the Treasuries owned by the Trust are dismissed as "mere IOUs" in this Heritage Foundationmemo.

    In essence, the Treasury handles all the cash (takes in income taxes, payroll taxes, disburses SS payments), and issues Treasuries to SSA for the net inflow. Heritage calls these "IOUs".

    Heritage conveniently omits the fact that this is equivalent to Treasury collecting the SSA revenues, handing them to SSA, then taking the money back (as loans) and issuing Treasuries. The same way as you or I would buy Treasuries.

    Just as Congress has outsourced legislation to the businesses it is supposed to be regulating, the press has outsourced analysis to the entities it is supposed to be reporting on, simply reprinting PR.
    November 2016
  • Too cynical for me, and not in accord with my (long) experience in business or finance.
    Wondering if you know many fund managers; I do a few.
    All my questions are serious, although you may be one who simply enjoys or automatically leans toward impugning; interesting you take an assertion being challenged as being combatted.
    Whatever. You wrote what you wrote. I called you on it. That's all.
    February 2016
  • I am sending a PM becuase I didn't want to clutter up that thread with back and forth as I intend to keep it for more gradung results. If you want to discuss this in public happy to do so in a separate thread.

    Products for a company is means to an end. There is nothing wrong with this.

    To answer your question, if you were to ask the managers they would give the public narrative : Our goal and focus is to serve our customers well by achieving our stated objective for the fund and getting the best returns for the trust our investors have placed in us.

    In private, they would look at each other, shake their head and smile, not because they are ignoble or evil but at the naivete of the question.

    What else are they going to say?

    Is a company publicly going to say that they cut corners in a product or make it less reliable to boost profits while this is something ALL companies do? Including Apple.

    Not sure if you are seriously asking this question or just combative in the forum or both
    February 2016