Alert: Billionaires Aren’t Giving You Financial Advice

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There’s a lot we can learn from the most successful investors in the world as well as from titans of industry and people who have changed the world with their inventions. Perhaps it’s following their example in terms of work habits. Or the lessons of entrepreneurship that we can take from their own rise to the top. Maybe we’re just inspired by their tenacity and creativity and drive to pursue their goals.

That’s all great. But that’s not financial advice. People should take the remarks of billionaires at face value and no further – when a wealthy businessperson or a successful investor speaks, none of what they’re saying constitutes personalized financial advice that would applicable for the audience tuning in.

Opinions about the market aren’t advice for each viewer or reader. They’re just opinions. Advice is personal and it’s given by someone who knows you and what you’re trying to accomplish with your life and your accumulated wealth.

Stanley Druckenmiller doesn’t know you or care about your retirement plans.

Michael and I discuss above, you can check out Ben Carlson’s take on this too:

Don’t Take Asset Allocation Advice From Billionaires (A Wealth Of Common Sense)

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