Words, words, words.

Shakespeare, in the person of Hamlet, recognizes that words, even those uttered or written with extreme eloquence, can be meaningless. I’m quite sure the irony was not lost on the bard, as he was a writer, even adding words to the English language. The irony is not lost on me either, as I write this blog, and record & edit in preparation for my upcoming podcast.

Perhaps that’s why I’m thinking about whether I can convey something of value with my words. It’s also the time of the political season, where, as a political junkie, I have been listening to convention speeches by Democrats & Republicans, both of which are populated by people who are startlingly able to string together an inordinate number of words without saying anything of meaning.

I think about it when I read the financial press, as well as any number of blog posts written by financial advisors, coaches, & amateur enthusiasts. I think about it when I watch the talking heads on our 24 hour news channels and the increasing number of financial YouTube channels. (Yes, I’ll have one of those too, thank you.)

What am I getting at? I may ruffle some feathers, but financial content creation is like pop music - for every Taylor Swift who releases an amazingly well crafted album during a pandemic, there are hundreds, if not thousands of mediocre artists who are nonetheless making music that receives significant airplay on the radio, Spotify, iTunes, etc. Unlike music, however, poor financial content, or “advice,” can have negative consequences in the real world - even, or especially, if it’s delivered in what is perceived as a professional manner.

And this is where I tie finance back to politics. It doesn’t matter (or it very much does) which political “side” you are on, there have been, over the course of history, politicians who have been able to sell their followers dangerous bills of goods because of their political talent, and people have been made genuinely worse off because of it. In the financial services world, there are incredibly talented salespeople who are able to get people to buy expensive products they don’t need (whole life, anyone?), invest in dubious schemes (Madoff, active portfolio management), and generally absorb as much of their clients’ money as possible for themselves. Their clients & families are the ones who lose. And that’s why I have to open my mouth to add my words.

“A conservative is someone who stands athwart history, yelling ‘Stop,’ at a time when no one is inclined to do so, or to have much patience with those who so urge it.” - William F. Buckley, Jr.

For me, a true financial advisor is one who is constantly yelling, “stop!” Stop spending money on needless fees. Stop investing in speculative fool’s gold. Stop listening to Jim Cramer.

Happily, I am not alone, and our merry band of flat fee advisors, Bogleheads, well meaning bloggers, podcasters, etc., will continue to try to help people avoid the hucksters & even simply genuinely misinformed.