I Guess So Called Financial Experts Are Not

[VanWinkle]

There's a sucker born everyday.

 

[rtroxel]

There's a sucker born everyday.

Ah, ha, ha! I was getting ready to post that, but you beat me to it!

Roy

 

[rtroxel]

Because I don't know if Cramer does what he says or does the reverse, I don't listen to him.

Actually, I don't really listen to anyone in making my trades. I do listen to economic news, and try to picture things out from raw info.

That's my approach as well. I also have a very helpful FA who actually discusses things.

Roy

 

[OldShooter]

The tv finance preachers are financial and psychology experts..... at getting suckers to part with their money. And getting rich in the process.

I disagree. Their goal is to get rich by generating clicks and ad revenue. End of story. Whether the marks actually invest or not really doesn't affect the preachers' incomes except maybe very indirectly.

 

[rtroxel]

I disagree. Their goal is to get rich by generating clicks and ad revenue. End of story. Whether the marks actually invest or not really doesn't affect the preachers' incomes except maybe very indirectly.

Either way, they don't have your interests at heart. And since they aren't giving you any news, facts or data, why watch them?

Roy

 

[OldShooter]

Either way, they don't have your interests at heart. And since they aren't giving you any news, facts or data, why watch them? ...

No risk of that. I think it's been a year or more since our TV was last turned on and I certainly don't watch any of the internet videos on investing.

In my Adult-Ed investing class I tell students to avoid all of this nonsense. For readers, the only "pop investing" I recommend is Jason Zweig -- both his columns and his books.

 

[Gumby]

Unfortunately, many investors think like this:

"If you make less money than I do, it's because you're stupid. If you make more money than I do, it's because you're crooked."

That's their form of pessimistic expertise.


Roy

Oh, I've met many people who made more money than me who were stupid. And plenty who made less money than me who were crooked. I don't think there is any particular correlation between intelligence, ethics and income.

 

[Major Tom]

^ This, particularly the last sentence.

 

[Koolau]

Unfortunately, many investors think like this:

"If you make less money than I do, it's because you're stupid. If you make more money than I do, it's because you're crooked."

That's their form of pessimistic expertise.


Roy

Heh, heh, the only ones that bother me are the stupid crooked ones that make more than I do.