If You Can’t Dazzle Them With Your Brilliance Baffle Them With Your BS…
Guest Post by Dennis Miller at Miller On The Money
Readers often ask for investment advice. When I began writing for Casey Research, I was warned by the legal team to begin any response with, “I am not licensed or qualified to give individual, personal investment advice. Please be sure to consult with your personal financial advisor.”
While I may not be duly licensed and trained, I’ve seen investment advisors, with lots of fancy plaques and designations, giving clients what I consider bad advice, while raking in lots of profit for themselves.
The King Of The Hill
I just reviewed the 2024 J.P.Morgan Asset Management Guide to Retirement.
Check out Wall Street On Parade’s article, Freakonomics and Frankenbanks:
“That $11.7 billion in net income at JPMorgan Chase Bank, N.A. represents 18 percent of all bank profits at all 4,568 FDIC-insured banks in the United States.
That would be a highly dangerous and systemic bank based on that fact alone.
But when one throws in the nonstop sleaze (like banking Bernie Madoff and Jeffrey Epstein for decades) and five felony counts this bank has racked up during the tenure of its Chairman and CEO, Jamie Dimon, it becomes crystal clear that this bank poses unacceptable and unmanageable risk to the financial stability of the United States.”
Hmmmm…. Consider the source. JPM has been fined billions for breaking the law. Now I see advice from their Asset Management Division. I’m sure they are profiting handsomely from asset management and this fancy report will help them garner new clients.
I may not be licensed or qualified, nor did I spend last night at a Holiday Inn Express (like the old TV commercial), but I spotted some issues raising a red flag.
I reviewed the section regarding Social Security benefits calculations. Between the bank and the government, the “Baffling BS” has hit astronomical proportions.
