Is it only me or does the constant wave of stock picks and ideas get old pretty darn fast? How can I listen to broadcasts where the host speaks of the impending crash of the market, then during the next segment speak of a stock that you should buy? Maybe I’m off base and the things I listen to are really for entertainment rather than education. It’s possible. Why would a show start with a disclaimer that nothing said should be taken as being investment advice, then go on for the remainder of the show and talk about investments and give advice? The only conclusion would be the show is for entertainment, correct?
The financial entertainment business is only going to grow in the next 10-20 years. Why? The wave of Baby Boomers that have or will be retiring in the not so distant future will have time on their hands and cash in their accounts. Rather than souls seeking redemption, they will be pensioners seeking yield. The financial evangelists on CNBC, Fox Business, Bloomberg and other outlets will preach the economic gospel according to Keynes, Hayek, Mises and Friedman, while they point the way to financial righteousness.
A lot of money has been wasted and a lot of money will continue to be wasted through the half baked advice of investment and financial commentators. A larger retired population with time and money will find their way to the screens and speakers where investment advice is broadcasted free and clear for all. The ideas will be imbibed and trades will be made. In some cases money will be made and in many other cases money will be lost.
At times it might be wise to invest in entertainment, but it is never wise to look to an entertainment venue for investment advice.