THE EMPEROR’S NEW CLOTHES!
THE GREATEST BUSINESS/LIFE BOOK EVER WRITTEN IS …
…THE EMPEROR’S NEW CLOTHES!!
I feel like the kid in the Emperor’s New Clothes, who said
“ENOUGH, I’M NOT STUPID, I KNOW WHAT I SEE!”
“You make more money selling advice than following it. It’s one of the things we count on in the magazine business – along with the short memory of our readers.” — Steve Forbes
FREE ADVICE IS WORTH WHAT YOU PAID FOR IT!
IF YOU’RE NOT PAYING FOR IT, YOU ARE THE PRODUCT!
CAVEAT EMPTOR!
Look around at the world today and I’m very confident that you’ll see more examples of nonsense being peddled as reality, or truth, in everything from politics, to health care ideas, to fashion, to news, to … well, you get the idea. There seems to be NO PLACE where people actually tell the truth and put their money where there mouth is. This circumstance, coupled with the fabulous internet has allowed everyone to look everywhere for WHATEVER THEY ARE LOOKING FOR.
Unfortunately, MOST PEOPLE FIND WHAT THEY THINK THEY’RE LOOKING FOR, NOT THE CORRECT SOLUTION, NOT THE ONE THAT ACTUALLY SOLVES THEIR PROBLEM.
This is called CONFIRMATION BIAS and it is VERY DIFFICULT TO OVERCOME!
You need an open mind when researching or you wind up as perfectly described by my old friend Bob Weir who eloquently sings:
“You ain’t gonna learn what you don’t wanna know”
Or, Let the FACTS, dictate the solution.
i joke with every subscriber when i say, “Now YOU know, THE WORLD IS NOT FLAT, no matter how many talking heads on CNBC swear that it is!
You’re Smart. You probably DON’T trade your accounts all that much. So many people have asked, “why is the market so volatile, I don’t trade my accounts and my advisor (rarely) makes any moves?” The answer - which you know already - that you are letting Wall Street PLAY WITH YOUR MONEY!!
WALL STREET gets paid to speculate with your money and you watch them do it!
The people who made the most money in the Gold Rush were the people who sold provisions to the miners like Levi Strauss, the bartenders and the people who pushed the narrative of “GET RICH”! Pretty sure a close analogy would be CNBC, Fox business and every other TV show and podcast that decry and pontificate about “what’s going on”, YET PROVIDE NO PROVABLE SOLUTION AS AN ALTERNATIVE!!
The Pillar that explains why traditional Asset Allocation doesn’t work tells the story perfectly.
When you realize that the people on Wall Street, that many many listen to,
sell “SOLUTIONS THAT DO NOT, AND NEVER HAVE, WORKED IN YOUR FAVOR”,
you officially join the group of people who,
just like the kid in the Emperor’s New Clothes, who said
“ENOUGH, I’M NOT STUPID, I KNOW WHAT I SEE!”