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A comment on Show HN: I built a website to create financial models for any stock online. Parent comment

Re:Show HN: I built a website to create financial models for... by jacobsenscott on Friday May 17, 2024 @07:23PM (#40395095)
Yes - it is well known there is no "secret investing sauce" - this has been proven over and over. The only people who tell you otherwise are people with something to sell you, or people who have tricked themselves into believing otherwise. This kind of stuff pops up whenever the market is on a tear.
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Re:Show HN: I built a website to create financial models for... by throwaway2037 on Saturday May 18, 2024 @10:17AM (#40399267)
The secret sauce is simple: low cost ETFs that track the S&P 500 index. Regular, automatic investments. Go to sleep. Wake up 30/40/50 years later. You will be rich. Warren Buffet supports this idea for retail investors.
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Re:Show HN: I built a website to create financial models for... by anamax on Sunday May 19, 2024 @05:43AM (#40405644)
> Warren Buffet supports this idea for retail investors.

Everything that Buffet says falls into one of two categories: [1] He has no relevant knowledge. [2] He/Berkshire makes money from it.

[2] Is the most common. (His railways transport oil. His insurance companies make money from the inheritance tax, a tax that his estate won't pay. Etc.)

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Re:Show HN: I built a website to create financial models for... by throwaway2037 on Sunday May 19, 2024 @11:05PM (#40411797) 

    > His insurance companies make money from the inheritance tax
I don't follow this. Can you explain more? Buffet has been quite clear that he expects low cost index-tracking ETFs to outperform even hedge funds with 2&20 fee structure.
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