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Morons who don’t know what they’re talking about

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I hardly ever post on weekends, but I was reading this forum thread today and I almost vomited in my own mouth while struggling not to throw my computer out the window.

Read this forum thread: What should I invest in?

bad-advice.jpg

Photo by smoo

LISTEN VERY CLOSELY PLEASE. JUST BECAUSE SOME PEOPLE ON THE INTERNET TOLD YOU TO INVEST IN A “HOT” SECTOR LIKE ENERGY DOES NOT MEAN IT’S RIGHT. IT MEANS THEY WATCH TOO MUCH TV.

JUST BECAUSE PEOPLE TELL YOU TO HOLD YOUR MONEY IN CASH DOES NOT MEAN THEY’RE RIGHT. IT MEANS THEY ARE SCARED AND IRRATIONAL AND DON’T UNDERSTAND HOW INVESTING, COMPOUND GROWTH, AND DIVERSIFICATION WORK OVER THE LONG TERM.

ALSO, HAVE THESE PEOPLE EVER READ A BOOK? HAVE THEY EVER HEARD OF “ASSET ALLOCATION” (WHICH IS RESPONSIBLE FOR 90%+ OF YOUR RETURNS)?

OF COURSE NOT! IT’S EASIER TO JUST POST WHATEVER SEEMS TO BE A “GREAT INVESTMENT OPPORTUNITY.” KILL ME NOW.

I’m saving that forum thread in my bookmarks of stupid things.

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30 Comments

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  1. umm, call me crazy, but beyond the overuse of the shift key, isnt his commentary just about spot on?

    What am I missing?

  2. The link to the thread is what you need to read. The ALL CAPS is Ramit going off about it. That thread is pretty bad. I’m always found of telling people when they come to me with some great idea they heard, that if it was such a great way to make money, then why the hell did someone else tell you about it? Also, if it was so foolproof, why isn’t that other person sitting on their private island warming themselves by the fire they made out of $100 bills. If someone else had THE ANSWER to all of your money problems, then they wouldn’t be talking to you about it. They’d be making tons of money themselves.

  3. oh. I guess all caps makes even the most eloquent orator appear to be a F-ing moron.

    I expected more from Ramit, I guess.

  4. The last couple of posts on iwillteachyou were not really worth reading and this one is below any standard. Ramit, was your account hacked and abused by some childish chap? IMHO, if you’re busy it’s better not to make a post than writing this crap. unsubscribe.

  5. I think what people frequently forget about is you really have to put advice in context. For instance, my guess is 99% of the people giving investment “advice” on that forum post either A) haven’t really ever done any investing or B) are broke.

    Don’t take investment or money advice from broke people. It’s stupid and you, by default, become stupid for taking their advice.

  6. Actually, listening to people who have made mistakes is an excellent strategy for learning. Most wisdom only comes through suffering, but if you’re clever, you can learn from the suffering of others as well.

  7. And I thought God, Gold, Guns, Girls and Green was a great investment strategy!?!?!
    I can see why you had half a nervous breakdown there…….;>

  8. ” And I thought God, Gold, Guns, Girls and Green was a great investment strategy!?!?!

    I can see why you had half a nervous breakdown there…….;>”

    That actually might be hinting at the best investment strategy at the rate we are headed, although I would replace ‘girls’ with survival skills.

  9. Personally, I love people like those that seem to post on that forum… it’s idiots like that which create opportunities for smart investors to profit from their excessive greed, fear, panic and stupidity. 🙂

  10. The original poster did seem to have some knowledge even if he wasn’t sure where to invest his money, he should have taken the money to a good financial planner to determine what the best course of action was for him. I guess he still can but it makes sense that he would have known this.

    Granted he did ask for advice which can be considered a call for opinions but I wouldn’t offer any form of financial advice to people I didn’t personally know. Even then I would be very hesitant – unless you’re a professional in the industry its safest to stay back.

    Joe – I couldn’t agree more; I wish I had been a little smarter in my youth, with the markets in turmoil a little bit of research can find you some great investments. Make money off people being stupid!

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