Topic: How To Invest

What is Pat’s commentary for the week of June 28, 2022

Article Excerpt

Have you noticed how many investment newsletter publishers have taken to describing themselves as “legends” in their advertising? It reminds me of the old-fashioned phrase “a legend in his own time.” Come to think of it, it’s even more reminiscent of kids’ versions of the phrase, such as, “a legend in his own mind,” or “a legend in his lunchtime.” Some investors see this over-stated advertising from stock-market gurus as a sign of a frothy, high-risk stock market. I see it as more of a sign that a new generation of investors has taken up stock trading as a hobby, and that this has sparked the rise of a new generation of GRQ (Get Rich Quick) investment publishers. If these ads are working, this new investor generation still has a lot to learn. Warren Buffett (and partner Charlie Munger) is entitled to describe himself as a legend. George Soros could also get away with it. However, they don’t need to rely on exaggerated…

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