The Derivative Project

Bona Fide Financial Education

How Morningstar’s Rekenthaler is Wrong on Marty Bannon’s T Sale

How Morningstar’s Rekenthaler is Wrong on Marty Bannon’s T Sale

March 14, 2017 the Wall Street Journal wrote, “Steve Bannon and the Making of an Economic Nationalist” “The controversial White House counselor says his father’s 2008 financial trauma helped crystallize his antiglobalist views and led to a political hardening; ‘I’m going to be totally wiped out.”  Marty Bannon, Steve’s father, sold…

New York Times’ Article on 403B Plans: Sponsored Advertising for “Wealth Management Firms”?

New York Times’ Article on 403B Plans: Sponsored Advertising for “Wealth Management Firms”?

Tara Siegel Bernard, personal finance reporter for the New York Times, wrote on October 21, 2016, “Think your Retirement Plan is Bad?  Talk to a Teacher.”  403(b) plans traditionally used for non-profits and schools, not only may not be covered by ERISA, but have traditionally pushed annuities that carry high fees…

Consumer Federation’s “Oath” Hides IRA True Legal Transparency

Consumer Federation’s “Oath” Hides IRA True Legal Transparency

Is Consumer Federation of America Using Social Media, Twitter, to Fight True Fiduciary Legal Transparency? Washington DC Advocate Better Markets, tweeted yesterday,  “The Document that You Should Insist that Your Advisor Sign”.  by Micah Hauptman, Financial Services Counsel for the Consumer Federation of America, a December 15, 2015 Opinion “Blog” at…

Financial Education “Poseurs”, Politics and 2016 Liquid Alt “Revolution”

Financial Education “Poseurs”, Politics and 2016 Liquid Alt “Revolution”

It has been a busy week so far dissecting new, disingenuous marketing strategies touted by Wall Street.  Seems just about everyone is now the “white knight” for the middle class retirement investor who is routinely giving up 1/3 to 1/2 of every dollar they save to redundant intermediaries.  However, the…

Senate Republican Testimony Pushed an Agenda that Preys on Middle Class Savings

Senate Republican Testimony Pushed an Agenda that Preys on Middle Class Savings

Primerica’s Schneider, Brookings Institution’s Litan, and Rebalance Inc’s Puritz July 21, 2015 Testimony at Senate Sub-Committee on Health, Education, Labor and Pensions The highlight of the Senate subcommittee testimony this week is perhaps the title of this hearing:  Restricting Advice and Education: DOL’s Unworkable Investment Proposal for American Families and Retirees.…

Money Markets:  Suspend, File and Charge the Investor for Low Interest Rates

Money Markets: Suspend, File and Charge the Investor for Low Interest Rates

Moody’s actually did the unthinkable this week, with hardly a whisper.  They downgraded the money market mutual fund industry to negative.  Reuters covered it, hardly anyone else did – “Moody’s slaps negative outlook on U.S. Money Sector.”  Can’t have too much transparency for the retail investor.  They still think money market…

It’s Financial Literacy Month:  Ignore Wall Street Workplace Curriculum

It’s Financial Literacy Month: Ignore Wall Street Workplace Curriculum

Bloomberg, New York Times, CNBC and your workplace 401k/403b “financial education curriculum” are all designed to keep the the financial services industry booming, on your Nickel.  Control of the media message, Congress, billions of dollars of advertising and the workplace curriculum have prevented normal supply and demand forces to operate…

Hello New York Times: Please Define “Conventional Money Management”

Hello New York Times: Please Define “Conventional Money Management”

The New York Times is doing a disservice to every retirement investor in their recent review of the “Robo-Advisors”, “Sites to Manage Personal Wealth Gaining Ground” The New York Times states: “The biggest selling point is that these relatively new sites are often far less expensive than conventional money managers,…

Bloomberg ETF Analyst Promotes New Wall Street Wolf— In Sheep’s Clothing?

Bloomberg ETF Analyst Promotes New Wall Street Wolf— In Sheep’s Clothing?

Just because something costs less, does not mean it adds more value, after all fees. Bloomberg ETF Analyst, Eric Balchunas, saw the movie Wolf of Wall Street, and came to the same conclusion Not On My Nickel did based on working in the industry.  Financial intermediaries add an extra layer…

Did Professor Shiller’s Speech to NAPFA Forget the Footnotes?

Did Professor Shiller’s Speech to NAPFA Forget the Footnotes?

Nobel Prize winning economist Robert Shiller of Yale University delivered a speech* on December 4, 2013 hosted by the National Association of Personal Financial Planners (NAPFA) and Forbes. Did the financial planning industry quickly capture remarks to solely advance their Agenda: “Robert Shiller gives his take on the future of advice;…