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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (91047)	5/24/2001 10:00:00 PM
From: Knighty Tin	Read Replies (1) of 132070

To All, An interesting week in my training. We had to interview brokers this week to see how they make money. There are as many different ways as there are people. But certain strategies pop out: 1. Nearly everyone employs outside money managers for most or a large portion of their clientele. 2. Mutual funds have become a dirty word after the big down year coupled with huge taxable distributions. People still use them, but they are becoming selective. 3. Asset allocation is still the "word." 4. Most of the folks are really dedicated and think they are doing the best thing possible for their clients. They are really not mercenaries, though nobody gives the fees and commish to charity 100%. <g> Tomorrow I take the Series 63. It seems harder than the 7 to me, though most say it is easier. "Why?" I ask. "No options," they answer. "Uh, that may be easier for you, kemosabe, but I be an option dude." <g> This one is mostly legal crap. All you have to know is that everything is fraudulent. A broker commits fraud by breathing in and out. Through our gills, of course. <bg> Best, Take Tin Knighty and call me in the morning.

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