A couple people have asked me what happened to the Thursday Rant. It isn’t gone! Tune in next week. Or maybe not; this is sort of a rant…
How did you like that title? Pathetic, swarmy clickbait, right? Absolutely. I threw up in my mouth a little just typing it. This is the nonsense that the mainstream media publishes every day to trick your lizard brain. And some very smart people fall for it.
About a decade ago*, I was talking to a friend about investments. Let’s call him “David.” David is no dummy. He works as a consultant in the computer field and makes huge amounts of money. Really huge; like someone has to come to his home with a dump truck full of greenbacks in the back every week to pay him.
Anyway, he started talking about investments when this gem exited his mouth:
I like the screaming bald investment guy! I watch him on TV every night and I’m going to base my investment decisions on his advice.
Back then, I didn’t have the knowledge that I do now, but deep down I knew that this was a bad idea. I have no idea if he ever followed through with this plan. I’m too afraid to ask.
The 5 Stocks You Must Buy NOW!
One thing I’ve realized is that most investment advice is bad. Really bad. Think about it. The goal of the money media isn’t to make you rich, but to sell ads or products. Here are some statements that get viewers:
- “Your portfolio will double next year!”
- “By the end of the decade, you’ll be living in a refrigerator box!!”
- “The 5 stocks you must buy RIGHT NOW!”
- “Why your portfolio will make your wife sleep with your boss and give you a rash on your posterior!”
Here is something you will NEVER see:
All hope is not lost. Some people do offer great advice. My friend Jim Collins is one. Another is billionaire Warren Buffett. Buffett’s advice is timeless and applicable to everyone from basketball stars to the Average Joe. Please click over to InvestmentZen to read some of my favorite Buffett quotes and how they apply to You!
*I’m fascinated with the way people use/abuse money and my brain has a special storage area for all of this information. It provides a never ending source of material for this blog.
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