by John Rubino, Dollar Collapse:
Pretend, for a moment, that you’re a money manager in today’s manipulated world. You understand that most of what’s happening is the result of governments and central banks intervening behind the scenes to force down interest rates and pump up asset prices. You don’t trust this process but since “the markets are recovering” you’ve felt compelled to play along, putting your clients into a standard mix of stocks, bonds and cash.
But you’re not feeling the love. With stocks outperforming bonds and cash, your blended portfolios have failed to match the S&P 500 and your clients are asking snarky questions like “What exactly am I paying you for when I could do better by just buying an ETF?”
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