Loading ...Yours is foreign cars. Mine is ETF’s. Before the advent of the ETF’s the markets were much harder to manipulate. After ETF’s were introduced and investors saw how easy it was to just buy and sell an ETF instead of buying and selling all the stocks the ETF represented, the markets made a huge change, and not for the better. I did my research and discovered that the owners of the ETF’s were always the large banks and brokers, like JP Morgan, Goldman Sachs, etc. Next I checked their charters and discovered they had no obligation to OWN any of the underlying company shares their ETF represented. Invariably it stated that they TRACKED those company shares but had no obligation to buy or sell them. In other words, investors gave them their money which was applied at the ETF’s current price, and when the investor decided to sell he was given back his money based on the current price, less the ETF management fee of course.
Okay so far…right? But what did those bankers and brokerage houses do with all that money while they were holding it? They had no obligation to buy the underlying securities and their only obligation was to return the investors money at the current value of the ETF. Maybe they just sat on all that cash??? or maybe they used all that cash to manipulate the markets….ANY MARKETS….ALL MARKETS with that giant slushfund from investors in their ETF??? Theoretically they could take the investors money and short every stock their ETF represented. THEY HAD BEEN GIVEN A LICENSE TO LEGALLY STEAL AND CONTROL ALL THE MARKETS ONCE INVESTORS WERE ALL USING THE ETF’S INSTEAD OF BUYING THE INDIVIDUAL SHARES. When I realized how the CON worked I have never bought another ETF and I never will. It goes against my principles and I will only buy and sell the actual shares or mutual funds who actually OWN the shares of the companies they represent.
I screamed and yelled on several PM sites and was told to “grow up” and “quit whining” and “get over it” etc, and since then the markets have made no sense since a few big banks and brokers are the only actual real investors and the stupid small ETF investors are providing the money to do it.
So your pet peeve is foreign cars and mine is ETF’s, but nobody listens. Yours helped ruin a country and mine helped ruin the stock market. LOL!!! All The Best From Silverngold