This post originally appeared Nov. 2010 and is still true. I am not trying to add insult to injury here just a reminder that the loudest people are not always right.
Don’t let the ill-informed, click-obsessed bloggers keep you on the sidelines with their hyperbolic nonsense – YOU ARE READING FOR KNOWLEDGE BUT THEY ARE WRITING FOR CLICKTHROUGHS, PAGE VIEWS, UNIQUES AND OTHER SCOOBY SNACKS
I cannot stop laughing, partly because of the imagery but partly to keep from crying. I am going to take it a step further and teach you how to defeat the stockblockers and start a relationship of varying lengths. This starts by identifying and strategically targeting the obstacles.
The Hot One– this is the person who seems to have everything going for them until they start talking and you can’t chug the Makers on the rocks fast enough. The financial version is Mark Cuban. We are both University of Indiana guys, I want to like him. He is a very successful businessman and by all accounts a good guy. His view is too simple for the “regular” guy. The best way to get around this person is to start talking about yourself. They can’t fathom that things exists past their narrow views. Also bring up one counter point to their crazy logic and they will disappear.
The Angry One- this person hates everything, I only wish I had that much energy. This person hates puppies and children and especially rainbows. I think of this person every time I am at ZeroHedge. It is a great website, very well written, informative, has 144k uniques a month. I would love my site to have the readership and engagement they have. I am jealous about that part. However they largely believe that no one can make money in the markets being long. That is fine, a great place to vent. But where it causes a problem is when it creates a mindset to privatize your wins and socialize your losses. When I lose it is because of me and when I win it is because of me. Yes there are shit things that happen but over time it balances out. I know what the market promises me. To get past this person you have to point them back to some of the good times. That one happy moment they still remember having. When you do that, they will thankyou. But obviously not publicly. But as soon as they are thinking about smiling, get out. It won’t last long.
The Ex– The ex-boyfriend is hard because in the beginning you don’t understand how he fits in. You know, the guy who starts talking to you or gives you creepy eye contact in the bathroom. When you walk by his friends they are all mean mugging you. After being followed to the bathroom, he saying how she is this and this and that. Hey I do not know that much about her he could be right. This Ex is like Michael Lewis, he has just enough knowledge to be credible. You are right; she does have a strong grip. But I do not think that means she is carrying a hatchet. If you are going to try to prove something logically do it in steps not in leaps. Lull the uninformed; you have to put them in the pot while the water is cold, they notice if the water is already boiling. The best way to get past the ex is to kindly thank them. Than tell the angry one and the hot one that he is here. The angry one of course wants to kick his ass, they are natural enemies. And hot one just wants the attention, does not matter from where. You and her are finally alone and now you can make the judgment for yourself.
My biggest problem with any of these people, because they are influential is that people will not go to other places for information. You can’t paint a wide brush on everything because information changes.
Be wary of people that provide a reason not to succeed. People do not need that, most people already have that built in. Finance is hard, it is not always fair but either is life. Beginners luck does exist, sophomore slumps do happen because you only have a little bit of information. When I am trying to learn something new, I first try to understand what exactly I do not know, than I find those resources to fill the gap some of it needs to be paid for. There are multiple ways to do something but not all of it is efficient for each person. That is the hard part.
Josh’s article is about stocks but the following should be thought/understood about all financial instruments before you risk your hard earned money:
Understand why and how that specific instrument works. Each one has its advantages and disadvantages.
Ask questions, you may feel stupid but you will be stupid and be broke later.
The public does not understand risk. You should have a working understand of risk and never I mean never risk living money. You should assume it is gone when you transfer the money. Risk should always be equal to rewards over time. Don’t think a 10% return is safe, forever.
There are not get rich schemes for the participants only the organizers.
I took a funny tone with this article but it is serious. Those examples are extreme cases, they are entertaining and each person/people have informative things to say but you have to dig deep at times. I will take the criticism of a hypocrite, being bias and a poor writer. I just want you to think about it and provide a different point of view. I am not right and they are not wrong for you, that is for you to decide. Fear largely comes for lack of information and/or survival.
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