Ron Lieber is a writer for the dead tree media. He's a fairly stupid person, but there's nothing in that that distinguishes him for his brothers and sister in the media.
The woman who cohabits with him, Jodi Kantor, specializes in exposing the people who, like John McCain's son, is a high value target in Iraq.
Ron demonstrates the total cluelessness of his understanding of the relationship between the client and his financial advisor in the article here, in which he castigates UBS and hails the whore monger Eliot Spitzer. I wonder if they hired the same sex toys?
The issue he raises is one of my pet peeves. I had a number of clients who paid me fees in lieu of commissions. I prefer that arrangement because it removes the major conflict of interest in a brokerage relationship: transaction costs.
What is more valuable: a broker who suggests a trade so he can get paid, or one who recommends against it because it is not prudent? I believe both are equally valuable. In fact, the data shows that fewer fewer trades are better for the client in the long term. Yet I take as much time advising clients against a trade as advising them to make a transaction. Is my time telling someone not to do something worthless? Do doctors or lawyers not bill when they tell their clients to avoid doing something?
Yet the whore monger Spitzer and his lick spittle acolytes like Ron Lieber worked to eliminate these kinds of accounts.
Don't cry for me. I do all right. But I'm sorry that there are people like Jodi Kantor who may get John McCain's son killed on their way to a Pulitzer.
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