Six of these already? How time flies.
Let’s talk a little bit about Twitter. No, not my terrible Twitter feed (thanks to the 1,604 of you who accidentally clicked the follow button), but the world of investing Twitter, or Fintwit as they call themselves.
Fintwit is both fantastic and terrible at the same time. On the positive side, you have smart people arguing about all sorts of smart things, suggesting interesting articles, sharing both enlightening and inspiring quotes, and cracking jokes about the news of the day. It’s pretty much heaven and being part of it is fun, even if I have to straddle the line between personal finance blogger (WHOOO INDEXING FOR LYFE, Y’ALL) and value investor.
But at the same time, Fintwit has some huge weaknesses. The arrogance is astounding. Most of these guys have spent their whole lives being told they’re right all the time, and it shows. Most are absolutely terrible at accepting when somebody shoots legitimate holes in their thesis. I think I said once, “I wish I was as confident in *anything* as the average Fintwit participant is about *everything*”. And since these guys all have a very similar worldview, it becomes an echo chamber. There isn’t a whole lot of contrarian thought in Fintwit outside of a few different people.
Still, it’s worth your time. I’ve been slowly unfollowing PF bloggers (sorry guys!) and replacing them with Fintwit folks for months now, and that trend will continue. If you don’t find yourself challenged by PF bloggers any longer, perhaps you should do the same.
Here are the links I liked this week:
1. Let’s start things off with the Saintly Spud, Holy Potato, who points out the fallacy in avoiding indexing because one stock (like Valeant, or Nortel before it) makes up a huge percentage of the index.
2. Everybody stresses about how there’s supposedly a “crisis” among millennials who can’t get jobs. Well, it turns out it’s only for liberal arts majors. Don’t let your kids grow up to be gender studies majors, uh, kids.
3. Interesting question posed by someone on the Financial Independence subreddit: if early retirees are attracted to living in other countries because of their low cost of living, why don’t they just move to rural areas? Their answers are fascinating.
4. Want to make a 99.99% guaranteed return of 2% or so in just a few weeks, which works out to 15% or 20% annually? Alpha Vulture has you covered with a merger arbitrage that looks like a pretty good option with stock markets so high.
5. You know how people say “I can’t work overtime, it’ll push me into the next tax bracket and I’ll end up making nothing?” Those people are morons, and Boomer and Echo show y’all why.
6. Students at Harvard have no idea how sequence of returns work. This is funny because they’re supposed to be so much smarter than you or I but mostly you. I am a geenius.
7. The Financial Canadian really wishes he would have invested in Berkshire Hathaway a few decades ago. We all do, buddy. Why was I wasting my paper route money 20 years ago instead of plowing it into BRK?
8. The fine folks at Tangerine are offering a FREE copy of David Chilton’s The Wealthy Barber Returns. This book is certainly worth your time if you haven’t already read it.
And while you’re at it, read my review for it. Chilton even dropped by and commented, making him officially the most famous guy to interact with me after O’Leary blocked me on Twitter.
9. Garth Turner points out the Deutsche Bank fiasco probably isn’t as bad as the folks at Zerohedge make it out to be. Speaking of whackos who have actually blocked me on Twitter…
10. And finally, Liquid Independence made a smart move, switching his accounts to Interactive Brokers and saving at least $100 per month in interest and fees. And yet he still refuses to buy me dinner and mail it to me.
Stuff Nelson wrote
As a reminder, you can hire me to write for your blog, newspaper, or poorly-Xeroxed newsletter. Hit the ol’ contact me page to get the ball rolling.
1. Over at the Lowest Rates blog, I wrote about low interest rate credit cards. They’re a decent option of your someone who has a balance.
2. Over at Motley Fool, I wrote about Just Energy Group, those jerks who come to your door when you’re trying to eat dinner. And I don’t hate their business model. Yeah, really.
Tweet of the Week
I guess I should respond to my emails, huh?
(marks as read)
Whew. That was exhausting.
— Nelson! (@financialuproar) September 26, 2016
Have a good week, everyone.