Michael Lewis has done a lot of researching and writing about finance, it's characters and it's history. He is the best-selling author of several finance books, including Liar's Poker, The New New Thing, Moneyball: The Art of Winning an Unfair Game, and The Blind Side: Evolution of a Game.
This short YouTube clip offers some wise words to live by when you are trying to protect your savings. I feel like a broken record sometimes saying this stuff. Its good to hear other critical thinkers make sense. You should send this clip to everyone that you care about.
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Good clip.
From one of his points – I have a question about Due Diligence.
Usually what I do is put together a comprehensive list of questions and then contact with emails & calls, going through all the questions. I have been surprised that people usually become quite defensive and the conversation gets awkward. It seems they are surprised and caught off guard, and I get the impression that I am acting inappropriate. These are reputable companies with reputable offerings, not shams.
Is there some kind of etiquette for due diligence that I'm not aware of? Some way that would give me better results since I don't get as much information as I would like. (yes, I am polite in conversation).
Will
“If it doesn't make sense, it doesn't make sense”. I feel so enlightened now. Thank you very much. I'm now prepared to invest my money on my own and don't need any advisors.
Hi Danielle,
Good clip – thanks for posting it. One of the points need clarification though. In light of last year I completely agree with the capital preservation approach. The point that isn't clear is about not trying to control my financial by myself (and focus soley on my practice / profession). From your posts and my experience we can trust 99% of financial advisors as the are just selling us products and using relative approach. The other 1% are usually out of reach for the little guy. So what are the options? The way I see it is to become better educated (by investing time in self education) or stay out of the game completely.
Any comments?
Thanks!