Warren Buffett: Most Financial Advisors Know Nothing About Investing

Warren Buffett has often advised people to steer clear of financial advisors, and in this video he explains why their poor advice can be so harmful to investing performance.

[sneakyquick]

But a low fee index fund and never touch it again. Just buy it regularly and never stop. You will beat 90 percent of "advisors"

[deviss]

Yea unfortunately a lot of financial advisors are salesman, stay away from financial advisors from insurance companies. If they sell insurance and are commission based then run. The minority of financial advisory firms are good though, as long as they don’t sell insurance and are fee based then I think they are solid

[MrZakatista]

Charging for skill and delivering closet indexation - exactly.

[bogardan]

Which annual meeting was this clip taken from? It would be helpful if you could reference the date somewhere.

[michaelwoods]

Warren said, "One of my heroes was Ted Williams"--presumably for being a .400 hitter, but to me he'll always an American patriot, a Marine fighter pilot.

[bensonblake]

When was this commentary recorded? Does anyone know?

[marcocurrin]

And it helps me clear my thoughts so you’re dealing with like let’s say a child or something that has practically no ethics they don’t know right or wrong they just think success works and we all know yes and no on that one. Next

[brozbro]

Financial Advisors shared the gains, not the losses.

[tavaresmccree]

Is this video from last year Shareholders meeting 2021????

[jimjackson]

If fortune has showered you with good things you otta be a better person the second half of your life.Two thumbs up for that one.

[marcocurrin]

Because once you bring it back to the middle then people can start gaining wealth again but I think at that point they’re going to see gaining wealth isn’t worth it and that’s the whole point but first we got to get back to center OK that’s going to balance everything off and that’s what we need to do.

[mariabell]

I extremely like the video, man. Very helpful and informative. Thank you very much. It is presented so well too. Great, positive work.

[danzeroOwuor]

I try to listen..to what you guys are saying but ....I can't get a lot of what you guys say

[randy]

Exactly, DIY is easy, construct a three or four fund Worldwide portfolio and go on about your life. Easy as pie. Wall Streeters like to stir it up in order to maximize "FEES".

If you need to hire an RIA, don't pay over 0.40% per annum for Assets Under Management (AUM). Good luck finding one that will work for you and at that price. Oh, and don't forget they get discretionary control over your money. READ the Contract and you will see. Your only recourse is to fire them unless you can find a non-discretionary RIA. Hard to do but I found one.

[marcocurrin]

It wants us to design a new computer program from the ground up how would you do that but then it’s got a Tie In all the ethics of The economy the engineer of product .And a lot of other things but the computer program is going to be a big one I don’t even know how to do that silly stuff I get lost in about one or two loops of program I look away and I have no idea what it looks like when I look back

[gybob]

It’s like Einstein saying most people don’t understand physics

[dagobaker]

just max out your Roth IRA with
rest up to 25% into regular account into VOO

[marcocurrin]

I like games to man but when stuff is serious we kind a need answers not games you did part of it like I said that you play games the other day and that helped out because in the computer learned a lot from it but now it’s come back with some other questions it’s asking me and I’m trying to figure them out but I can’t do it I mean I literally have no idea how to fix those problems that I mention but people thinking about it they can that’s why I keep coming back here and putting stuff because I feel those thoughts come flying through my head like what about this what about this what about this and it’s like man I’ve already went over that now I got to explain it to them

[marcocurrin]

Once they see that your problems are gonna start getting fixed so you might want to turn down the doubt system that you got a run an item to see if you want to fix all the problems that you got and I’m talking to the computer not you all

[marcocurrin]

We need an answer how would you fix a Ponzi scheme ethically