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 Davian Capital - just another Wall Street snake

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Diseasel




Posts : 1490
Join date : 2013-02-28
Location : About Mid AZ

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PostSubject: Davian Capital - just another Wall Street snake   Davian Capital - just another Wall Street snake EmptyJuly 18th 2013, 11:36 am

Another crook stock broker was caught stealing investor's monies. His name is Anthony Davian. He was young, brash, and dumb. He had a hedge fund in Ohio, claimed to have $200 million in investor's monies and promised 40% investment gains. But no, just another ponzi scheme. He spent investor's monies on himself. He used youtube etc to advertise. His employees caught wind and turned him in but it was too late. Later he tried to commit suicide. Hopefully he does lots of time!

http://finance.yahoo.com/blogs/the-exchange/lessons-erstwhile-hedge-fund-king-akron-ohio-235303914.html


I'm to the point that I don't trust any financial adviser, stock broker, or insurance sales person. And CFPs aren't always trustworthy either even though they're suppose to be fiduciaries. Most in the financial industry are needless, overpriced middlemen stealing money just because the industry has always been that way. The products they sell tend to under perform market indices and their fees are ridiculous.  

The good news is there's several new pushes to clean house. Of course, consumers are catching wind and making changes. But also, there are efficient online sources that provide diversified portfolios based on personal risk assessments.

You can go to www.wealthfront.com, answer 10 non-intrusive questions and receive a personalized, low cost, risk-adjusted portfolio of Vanguard ETFs presented with recommended percentages etc. All at no cost. Of course they'd love to manage your account for a small fee (0.25%) but you can always open a your own brokerage account (Etrade, TDAmeritrade, Scottrade).

There's other similar websites, such as FinancialEngines.com that do the same thing. This one uses Nobel Prize winning financial advice for portfolio selection and management. Hundreds of fortune 500 companies are using them for their employee 401k plans. They also work with investors who have a Vanguard account (no cost if account > $50k, otherwise ~$300 fee).

Silicon Valley has the solution for fewer Wall Street slime balls!
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TheQuig

TheQuig


Posts : 2590
Join date : 2013-02-28
Age : 70
Location : The Jersey Shore

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PostSubject: Re: Davian Capital - just another Wall Street snake   Davian Capital - just another Wall Street snake EmptyJuly 18th 2013, 7:11 pm

Anyone that expects to see a 40% return on their investment deserves what they got for being so stupid. This stock broker will get a slap on the wrist and a few years Federal prison time and the investors will get nothing back.

____________________________________
Don't believe everything you read on the internet- George Washington.
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rustbucket




Posts : 365
Join date : 2013-03-02
Age : 70
Location : western Wisconsin

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PostSubject: Re: Davian Capital - just another Wall Street snake   Davian Capital - just another Wall Street snake EmptyJuly 19th 2013, 4:51 pm

TheQuig wrote:
This stock broker will get a slap on the wrist and a few years Federal prison time and the investors will get nothing back.

Your former governor, Jon Corzine didn't even get that. It pays to be an Obama  campaign moneybundler.
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PostSubject: Re: Davian Capital - just another Wall Street snake   Davian Capital - just another Wall Street snake Empty

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