Who do you think wrote those ominous words, “…all sheep will be fleeced…”, and what were they talking about? Was it Warren Buffett talking about investors who bought into Tech Stocks in the late 90’s? Was it me being critical of the pay-day loan business? No.
It was Hunter S. Thompson and he was not talking about Wall Street, Mutual Funds or anything financial, he was talking about NCAA March Madness (how topical), but his words do have a very financial tinge to it, doesn’t it?
Mr. Thompson was the original Gonzo Journalist, and his prose are certainly thought-provoking (if not mind-bending). However, I do like this quote, especially if you take it out of context and bend it towards the financial industry in general.
I view this statement more as a warning to the uninformed, or over-trusting who simply hand their money over to an investment firm or person and assume it will all work fine and all will be completely above board. If you remember Mr. Thompson’s words when dealing with someone wanting to be your Investment Advisor, you may be better off.
Am I implying that there are evil folks out there that want to Fleece uninformed Sheep or Punish Fools? Damn right I am. Am I saying that all financial advisers are like that? No, but you must remember that it is your money in the first place.
Maybe I should become the Gonzo Financial Journalist (some might say, I already am). I always think of the Great Gonzo (from the muppets) when I think of Gonzo.
The Exact Quote
March is a month without mercy for rabid basketball fans. There is no such thing as a ‘gentleman gambler’ when the Big Dance rolls around. All sheep will be fleeced, all fools will be punished severely… There are no Rules when the deal goes down in the final weeks of March. Even your good friends will turn into monsters.Hunter S. Thompson