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How the Market Works

The Tube

Posted by kdadmin on April 10th, 2014.

On Monday, the financial press was up in arms about the S&P 500 going down from 1890 to 1840. It was going to be the end of days. Or something stupid like that.

I was on the London tube on Monday and managed to record an angry child’s lovely summary of the recent financial media and market activity. (He really goes all out at the end.) Be sure to pay special attention to the lighted bar at the top. It’s a measure of proper levels.

Speaking of which, I subscribe to various consumer email lists just so I can keep track of the tripe that’s being levied at the average investor. Honestly, it’s usually annoying, but lately, it’s appalling. I even saw an article about how the UK’s debt was supposedly 900% of its GDP. This is totally false. The attempt to use fear to scare consumers into buying subscriptions is the lowest form of scum. If a publicist wants to give consumers advice, and “help” them, then why the hell is that publicist scaring consumers to death? It’s patently unethical. It’s also not necessary to lie to get business. If a firm needs to do that, they need a better product.

The point of giving financial advice is to ethically help people accomplish their goals and ambitions. End. It’s hard to do it well. It takes years of schooling, education, experience, insight, and perspective. Even then, I, as an advisor, still have to rely on the client to follow my advice.

My point is simple. The goal of the media is to sell media. Not advise you. My goal, on the other hand, is to help you Live the Life you Love. sm

Zurich Awes


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