These days it is reminiscent of the hay days of the Internet Bubble. Back then the statement was:
Profits don’t matter. It’s eyeballs!
90’s Internet Bubble Investing Credo
That drove the 90’s Internet bubble. When you read that I am sure you smirked or laughed how insane that reads, but it was the gospel of investing in the 90’s. We saw the explosion of that bubble, and the associated side effects (i.e. loss in wealth for day to day investors).
I like my women, like I like my coffee. Respected in the workplace and compensated at an equitable and fair level.
Big Cajun Man 2020
I wrote an article in 2005 about Experts? It’s your decision where Harry S. Dent Jr., back in 2000 advised how great the Internet was as an investment. This was written as the Bubble Exploded.
Index Investors, who purchase Canadian Indexes need to remember they are Highly Exposed on Banks. Banks hold a high portion of most major Canadian Indexes.
You need Two Key Investment Strategies, if you plan on investing for the long term. The first is easy, when to buy, but what might be the second?
A friend of this web site is Doug Hoyes (CA, CPA) and he gave me a copy of his book Straight Talk on Your Money to review. As most folks who have given me their books know, I am atrocious at reading and following up on books, however, Mr. Hoyes had an ace in the hole, he has published an Audiobook. I subscribe to Audible, so I used one of my credits to purchase the book and was pleasantly surprised.
Mr. Hoyes’ presence and narration of the book is excellent. Many times authors fool themselves into thinking that only they can bring their story to life, but Mr. Hoyes’ experience with his podcast has served him well.
This is a book for anyone wanting to learn about how your financial plans can go awry. The stories told are of ordinary folks, who had some very bad luck, or things just got out of control. If you think you have everything under control, read the book you will feel less confident and see where your plan might need tweaking.
If you think you have your life insurance story in place, please read the There is More to Death than Life Insurance section. I did like the section about Never Loan Money to Family or Friends as well. I won’t ruin it for you, but it really does make sense to me.
The book is an excellent read and the audio book is really great to listen to while commuting or on long car trips too. Mr. Hoyes’ delivery on the audiobook is top rate (and his son engineered the book as well, and the sound balance was very good). This is not a classic How To financial book but it gives concrete examples about how life is variable and things can go wrong.
Straight Talk on Your Money is an excellent financial read.
I do like Mr. Hoyes, I have only met him a few times, however we have spoken many times on-line, and I have been a guest on his podcast twice. Mr. Hoyes is a bankruptcy trustee (and an accountant), and he seems to genuinely care about his customers as well. Mr. Hoyes did give me a copy of his book, however, I bought the audiobook version myself. I am not receiving any payment for this review. If you click on the Amazon link I will make a small commission. Please keep this in mind reading my review.
The headlines are full of how both Facebook and Google were bamboozled into delivering fake news during the past U.S. Election (2016), but for anyone who knows much about Search Engine Optimization (SEO), this is no big surprise. SEO is the pseudo-science (some say snake oil) that causes your searches to make certain articles to come out on the front page of your search pages. Fake Money news is also out there.
Manipulating Facebook, Twitter and Search Engines to bring up “less than scrupulous” news on any topic is not as hard as you might think.
Most folks don’t really understand how search engines work, and how Google, Facebook and many other sites decide what you should look at (and to be clear, they decide what you look at, you have very little choice in the matter). Large companies are out there to market websites so that they get high rankings on the Internet Major Sites (as you can tell, I do not use those firms). There are estimates on how much is spent on SEO, and it is now in the Billions of Dollars worldwide (I am also including folks who pay for advertising on Google, Facebook, Twitter and other sites). Who has that kind of money to get Fake Money News in front of you? You would be surprised to see who spends money on it.
Look at what sites come up first. Many short-term loan and Pay Day loan companies, because they pay good money to get on that first page. They want to find you, and they want you to find them first! Are these the right sites for you to look at?
People seem to think the Internet is a great and all knowing oracle, but don’t be fooled. It is a business, and how does Google, Facebook, or Twitter make money? Selling search results to the highest bidder. Why do companies pay so much to them? Those Internet Leaders promise that they will deliver customers to the buyers doorstep.
Does this sound like Mad Men to you? That is pretty close, it is yet another spin on the world of Advertising (without the 4 Scotch lunches, and Don Draper-isms).
Yes, you can find a few of my articles around, but you have to look hard. I have tried hard to be on the first page for Registered Disability Savings Plans (RDSP), but I am nowhere to be seen. Which sites are on the first page on Google? The CRA (which is good), the Banks and then a litany of firms that will help you get your RDSP set up.
If I wanted to manipulate a specific stock putting out fake news to drive the stock down or up could be simply done (and has been done to Apple and other stocks in the past). Having the next sure fire investing methodis simple to push, because everyone is looking to get an edge.
What is my point?
You are being manipulated, every time you click on a search result on Google, or an ad on Facebook or Twitter. Someone paid good money (or did some dirty tricks (SEO has Black and White Hats)) for you to see that search (usually), but if you realize that, you are already better off.
Be skeptical about things you read on the web (yes, here too). Get different opinions, different views, use different search engines. You are being sold something every time you look at the Internet, be it news, money advice, travel advice, or so many other topics.
Financial technology, also known as FinTech, is an economic industry composed of companies that use technology to make financial services more efficient. Financial technology companies are generally startups founded with the purpose of disrupting incumbent financial systems and corporations that rely less on software.
Artisan Investing™ would imply: Individual or customized (and naturally highly researched), investing plans and everyone likes to feel like they are not just one of the unwashed masses. Your investing would be taken care of in an Artisan way, using only the best techniques, methodologies and investing concepts. The ETFs used in your profile would only be of the highest quality, and only invest in companies that create the highest quality products.
However, if we view the term Artisan as meaning:
a worker in a skilled trade, especially one that involves making things by hand.
then the concept of Artisan Investing™ is completely ludicrous (of course), since FinTech implies automated or “… not made by hand”. FinTech implies using technology to do things well, since Artisan implies using “tried and true old school methodologies”.
Artisan is getting tacked onto all sorts of products and services, why not “new” financial technologies, as well? Soon to be available from your local trading housePremium Artisan Automated Investing Profiles.
Happy All Saints’ Day, where we solemly note all the saints, and remember those who have passed away this year as well. You might well ask who is the patron saint of money? I am glad you asked, Saint Matthew is the patron saint of money, as he was a tax collector for the Romans before he became a Christian (oh and Saint Matthew’s day is September 21st). I believe it is also Financial Literacy month, so watch for #FinLit tweets as well.
What spooky and exciting money tweets were there this week? Well just have a look at some of these beauties.
I always like it when Stats Canada has some fun, and they have published a very fun report to read about Halloween related information, a lot of fun this one: