Financial Darwinism at Work
- Joshua M Brown
- July 9th, 2012
Dumbest fucking thing I've heard all month (I know, it's still early, but this is tough to top)...
From the LA Times:
Americans worried about running out of money in their golden years are trying a new investment strategy: day trading their retirement funds.
Disillusioned with the conventional buy-and-hold approach, baby boomers are anxious to improve their retirement prospects after two punishing bear markets in the last decade.
Some people are trading the mutual funds in their 401(k) plans more frequently. Others are venturing into options. And some aggressive investors have begun day trading their nest eggs — all in a bid to make up for lost time.
Enjoy your all-you-can-eat retirement buffets.
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The Reformed Broker is a blog about financial markets and the economy. Joshua Brown is a New York City-based investment advisor for high net worth individuals, charitable foundations, retirement plans and corporations... More.