For the last time: Insight is not Advice

I keep reading stories like this that manage to totally miss the point of what the financial media and social financial media are supposed to be about – the focus is always on this non-existent premise of “people giving advice on TV or online.”

For (hopefully) the last time, I’m going to make some clear distinctions in bullet point format, I’m very busy right now:

1.  No one should be taking or giving advice on TV or on social media. Period. Advice is meant to individualized and personal, it should be about retirement and risk tolerance and it should be specific to the person receiving it, not broadcast in one flavor on the web or a TV station.

2.  The true value of having smart people on TV or the Radio or Twitter is the insights they share into what they themselves are thinking and doing

3.  None of this sharing is meant to be interpreted as “This is what YOU should do” – if that’s how you’re reading it, then it is you who has the problem, not the media itself or the participants.

4.  Information sharing should lead to enlightenment so that people can judge it for themselves and formulate their own opinions based on how they think it might affect them personally or financially.

5.  When I see Jeffrey Gundlach or Warren Buffett or Marc Faber or David Tepper on TV, I am interested to hear why they are anticipating a certain outcome or why they are positioning their portfolios in a certain way – I am not under any impression that they care if I choose to follow them or not, nor should anyone else be – Insight is not Advice.

6.  People need to get over the concept that anyone who says something positive on a market or stock or sector is a “tout.”  Why can’t people just say they like a certain investment without a cacophony of overgrown children reading something insidious into it?

7.  If I say I like the Berkshire Hathaway B-Shares, for example, how is it that anyone can construe “I want you to buy them also” from that statement?  I don’t care what you do.  Neither do the other million people on Twitter or StockTwits or CNBC or Bloomberg or Yahoo Finance.  Do whatever you want, there is no upside for anyone speaking about an investment in public for you to buy it unless you are buying it from them.

8.  The guys that make statements like “I want YOU to be in XYZ stock” deserve to dodge the tomatoes as they’re thrown, the wording they use sounds like a recommendation.  Most people in social media or traditional media do not speak that way.  Please understand the difference.

Bottom Line: Not everyone sharing information is giving advice to the general public.  Not everyone sharing insight into their own way of thinking cares whether or not they’re convincing you to agree or to act on it.

Grow up.








This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment.

The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client.

References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others.

Wealthcast Media, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. Investments in securities involve the risk of loss. For additional advertisement disclaimers see here:

Please see disclosures here.

What's been said:

Discussions found on the web
  1. commented on Sep 23

    … [Trackback]

    […] Here you will find 85528 more Info on that Topic: […]

  2. 먹튀폴리스 commented on Sep 26

    … [Trackback]

    […] Here you can find 90832 more Information on that Topic: […]

  3. Online Subutex usa overnight commented on Dec 10

    … [Trackback]

    […] Information on that Topic: […]

  4. replica rolex commented on Dec 17

    … [Trackback]

    […] Here you will find 32616 more Information on that Topic: […]

  5. Regression testing commented on Dec 22

    … [Trackback]

    […] Info on that Topic: […]

  6. 안전공원 commented on Dec 24

    … [Trackback]

    […] Read More to that Topic: […]

  7. 메이저토토사이트 commented on Dec 28

    … [Trackback]

    […] Find More to that Topic: […]

  8. online td banking commented on Dec 28

    … [Trackback]

    […] Find More to that Topic: […]

  9. diamond art kits commented on Dec 29

    … [Trackback]

    […] There you will find 79838 more Info to that Topic: […]

  10. fake rolex watches commented on Jan 01

    … [Trackback]

    […] Find More Information here to that Topic: […]

  11. lace front wigs commented on Jan 19

    … [Trackback]

    […] Read More on to that Topic: […]

  12. rbc royal bank online banking commented on Jan 26

    … [Trackback]

    […] Find More on that Topic: […]