I continue where I left off from Part 1 of this piece...
It might seem like the guys interviewed by the financial media know what they’re talking about. But if their position is too superficial or too extreme, their guidance could actually prove to be worse than those who listened to Larry Kudlow, or “Mr. Perpetual Bull Market.”
If you are seeking a simplistic approach, you’re sure to find it in the media, whether it’s doom and gloom or Dow to the moon. The reason is quite simple. Most people aren’t so intelligent, especially when it comes to the investment process. So the financial marketers who are interviewed by the media (note I said marketers, not experts) deliver an extremist, simplistic approach because they know most people can understand it. As well, most of these marketers lack the investment sophistication required to provide real insight.
The problem is that the investment process is never simple. So if you are looking for a simplistic approach, I advise you to never invest in the stock market because a simpleton understanding of things just won’t get the job done. Advocates of the simple approach pump index funds as the best solution. But I will guarantee you index funds aren’t going to perform well over the next several years.
The truly smart money (what little there is out there) realizes all of this. And they certainly don’t listen to the media’s so-called experts. The sheep continue to be herded by the fluff from the mainstream media and their hand-picked “experts.” These “experts” serve the media’s purpose, which is to enrich their sponsors – the financial industry. They accomplish this is many ways. Some of these clowns are so wrong that they inspire the sheep to try investing on their own.
Other times, they look like geniuses; that is until the **** really hits the fan. Either way, financial networks pump out trash. And when you watch, it causes you to invest or trade. Look at your past. Have you made money by listening to the media clowns?
If you aren’t getting the results you want, you need to change what you are doing. That’s just common sense. For most, it means turning the channel away from CNBC, FBN and other financial networks.
If you ever want to become a sophisticated investor, you need to align yourself with investment winners, not manipulators; not snake-oil salesmen. You need to stay away from the noise, the lies and the manipulation.
Some of these so-called experts are nothing more than salesmen, looking to make money on commissions from you, or sell you funds. Others are trying to sell you gold or pump up the gold market. Still, others have spent most of their careers on a college campus, detached from the real world.
Yet, these are the ONLY guys the financial media offers you because they serve the media’s agendas – to get more people involved with investing because the financial industry provides all of the revenues of these networks via commercials and other forms of advertising.
These are the facts, so I suggest you wake up and stop checking in with the mainstream media when you want to find out what’s happening. And you need to be just as cautious when visiting financial websites since you can be overwhelmed with exaggerated claims and other trash from gold bugs and perpetual doomers looking to manipulate investor sentiment.
You need to investigate the track records of everyone you chose to spend time following. What were they saying five years ago? Have they been crying wolf for ten years? Do they have financial agendas that stand to benefit from their opinions? Have they been professionally trained? Have they ever managed assets professionally?
Just because someone posts an investment-related article on a website doesn’t mean he has a clue what is going on. In fact, the vast majority of these online commentaries are slanted, biased and the authors are clueless. Otherwise, you will continue to remain in the dark. And you will NEVER be able to retire.
Understand this. Every time you watch CNBC or FBN; every time you read an online financial article written by the mainstream media, you are making them money. Advertisement revenues are determined in large part by readers or Internet traffic. So when you read, when you watch TV, you are empowering these deceptive and sometimes criminal organizations. Effectively, when you pay attention to the media, you are handing them your money since the lies of their “experts” cause you to ultimately lose money.
It's time to wake up. Your livelihood depends on it.
Quite simply, the education we provide is priceless. Those who do not receive it are certain to lose a good part if not all of their life savings by falling for the countless con men that seek to win your trust and make up stories. The current gold/doomsday scam is just one example of this. You can be sure that there will be many more scams to come.
So you had better ask yourself the following question…are you able to spot scam artists?
How often do you hear someone spend so much time at work fighting to get the truth out when they should be focusing on sales?
With the exception of Mike’s efforts, it NEVER happens.
Many have been fooled by snake oil salesmen to think they are on your side, when they are really looking to hook you into their sales pitch.
Mike could focus on producing videos that always highlight his amazing track record in order to generate sales, but he doesn’t.
Instead, he spends a great deal of time exposing the liars and con men out there who are duping millions of people with their gold-pumping, doomsday delusions, even though these efforts are costing Mike a great deal of lost sales.
Just remember this down the road once you look back at this period as a huge fraud perpetrated not only by Wall Street, but also by thousands of doomsday, gold-pumping charlatans. If you do not already realize they are scam artists, you will eventually if you take their advice. That is a guarantee.
Mike Stathis remains the lone voice of reason and wisdom for Main Street.
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