Valyooo (99.81)

Liberal economics, and LPL financial

November 20, 2010 – Comments (3) | RELATED TICKERS: LPLA

My computer stopped working so I haven't really been on CAPS much this week, hence my score dropping, oh well

Anyway, two thoughts, one blog

1) I have this teacher for Macroeconomics and Public Finance.  He was friends with William Vickery, so you can imagine his views.  Anyway, liberal economics teachers should not be allowed to teach.  He makes up read the public finance book which clearly shows (with math and charts and all) how welfare creates deadweight loss.  He goes through all of these things but then concludes with "Well, I cant help but feel that welfares a good thing".  I will give countless examples of firsthand moral hazard of welfare, and he just replies with "well, i dont know about that".  Also, he thinks there should be a 90% marginal tax bracket for over 10 million like there used to be because since they are already getting paid so much, they wont mind working for peanuts afterwards.  I gave him an example of how Ajay Banga left Citi to work at Mastercard because he wasn't getting paid enough, and how many rich people would not contribute their great ideas after a certain point if they werent getting paid for it and he just says "im not buying it".  In Macro, he gets mad when I use the term "printing money" instead of "buying treasuries" (even though the textbook says printing money") and is talking about how we are on the verge of deflation.  He talks about commodity push inflation and how high commodity prices always get absorbed by the economy and i mention all the huge price surges in commodities and he says "well this time it wont lead to inflation".  Come on, my tuition is 30k a year, please teach me instead of telling me your feelings.  If I wanted to know your feelings I would take you out to dinner

2) I did a 2 month internship at a local branch of LPL financial. I cant say I know much about the company.  What I do know is they are very personal...they give financial advice for every specific detailed situation of your life, and invest accordingly.  You arent just a number like at many other banks.  Also, they are rated top 3 in the world for investment advising (Way above JPM, WFC, C, MS, SCHW) and they were the #1 private investment advisory before they went public.  At a market cap of around $500 million, I cant see them not growing, although i gotta check their numbers

That is all, enjoy your weekend