Shah Gilani's Archive
Shah Gilani
Wall Street superstar and former hedge fund manager Shah Gilani is the Chief Investment Strategist of Manward Press and at the helm of the Manward Money Report newsletter and the Launch Investor and Alpha Money Flow trading services. He’s a sought-after market commentator and has appeared on CNBC, Fox Business and Bloomberg TV. He’s also been quoted in The Wall Street Journal, The New York Times and The Washington Post, and he’s had columns published in Forbes.
In 1982, he launched his first hedge fund from his seat on the floor of the Chicago Board Options Exchange. He worked in the pit as a market maker when options on the S&P 100 Index first began trading… and was part of a handful of traders who laid the technical groundwork for what would eventually become the CBOE Volatility Index (VIX). He also ran the futures and options division at the largest retail bank in Britain. Shah gained notoriety for calling the implosion of U.S. financial markets (all the way back in February 2008) AND the mega bull run that followed.
Now at the helm of Manward, Shah is focused tightly on one goal: To do his part to make subscribers wealthier, happier and more free.
The Feds Are Going After Robos – And Investors Are Getting Left Behind
The feds might be coming after the robots – finally.
Even here, as we start the New Year, I don’t have my hopes up. But I’ll take this good news.
On December 21, the SEC charged the country’s second-biggest robo-advisor, Wealthfront Advisers LLC, and a small defunct robo-adviser, Hedgable Inc., with misleading clients.
According to The Wall Street Journal, the two robo-advisors used “automated tools to create portfolios for clients, rather than relying on people to pick investments and councel customers through decisions,” misled clients by not monitoring accounts to prevent trades that created adverse tax consequences, illegally paid bloggers whose endorsements resulted in account openings, and, in the case of Hedgeable, used only 4% of client accounts to calculate company returns.
Here’s the $200 billion question (researchers at Backend Benchmarking say robo-advising makes up $200 billion of the investment and trading universe): Are do-it-yourself investors who rely on robo-advisors being shortchanged?
Today I’ll give you my answer
Plus, I’ll show you how to protect yourself.