Club Mulgoa

Friday, September 09, 2011

S&P rating

If you want to know how lazy fund managers are, just look at listings by S&P's today. If you are removed from its tables, your share price will fall further than what it has fallen to. And vice versa. So stocks like STB went up recently because more potash was found. After inclusion into the S&P 300, its share price jumped for no other reason.

The fund managers just track the listings. That easy! And they get paid millions and then super bonuses for being puppies. Yet the dogs who work hard, physically, get low pay while brainier people, like engineers, scientists, doctors do not come anywhere close to what these finance people can make. When markets tumble, don't expect them to give back their bonuses nor do they cut their pay.

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