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So, I used to write on a blog called topfinancialadvisor.com (not for a couple years). It was kind of funny, when researching for the blog, we found countless
by lettergram 9y ago
So, I used to write on a blog called topfinancialadvisor.com (not for a couple years).
It was kind of funny, when researching for the blog, we found countless articles all copied from bloomberg.com, forbes.com, usanews, cbs, msnbc, etc. They all had the same basic story, which barely told anyone anything, and at the end had some sort of popup to "get your financial advice." It was clear the whole things was just an add from the start, just trying to get high in the google rankings.
And, that's pretty much how I feel about every financial adviser. It's a gimmick to collect fees. It doesn't take a genius to make money on the stock market, or invest in a property. The key is to diversify and invest in solid teams / products. The same things Warren Buffet looks for in a company, is literally almost the exact same thing YC looks for in a startup. It's a solid team, good management, vision, and a solid product (preferably with solid sales); and only trade what you know.
That being said, (a bit of a shameless plug here) that's part of the reason I'm writing my own financial adviser (https://projectpiglet.com/ https://projectpiglet.com/ currently being alpha tested). The idea being, use what other people know, to help trade the market.
I fully intend to just charge a flat monthly fee, and provide other services as well, for your own research. Basically, explain the whole process of why you should buy X, then let you make the decision. This (I felt) was much more honest, and although it might cost me more money initial, building trust will eventually benefit long term IMO. Plus, it has the added benefit of (if it ever takes off) optimizing investment towards solid products / teams, as opposed to shady financials as CFA do.
The CFA's I speak to about this, drive me absolutely nuts. They think I should either (a) just look at the companies financials and that's it, or (b) try to talk me down, then try to sell me their services (claiming they can do better). The best part, is when I show them my portfolio -_-
- pmiller2 9y agoHow do you use Project Piglet to inform your investing decisions? The examples don't seem very enlightening. I'm slightly confused that it's registering a positive sentiment for Uber, too.
- lettergram 9y agoYeah, we are working on an improved demo (along with transitioning the stock advisor from python to our web app). I personally use it to identify how experts feel about a given product, then compare to what the main stream media things + the stock market. One of the most interesting examples of this, was I saw a spike of positive sentiment regarding AMD in early 2016. I then invested some money because the experts felt their new architecture could compete with Intel. That sentiment just continued to build until release, at which point I held a ton of stock. As for Uber, believe it or not, there actually is a ton of positive sentiment. Even though there is a lot of negative discussion here on HN generally, it targets "experts" i.e. people who appear to discuss uber in depth and/or have insider knowledge. Those people believe uber is doing relatively well (at least in 2016 - the demo data). Now, it's a bit more mixed when looking at sentiment, with a solid negative net promoter score[1]. [1] http://www.medallia.com/net-promoter-score/ http://www.medallia.com/net-promoter-score/
- smileysteve 9y agoI majored in finance and interned in college one semester with a broker. I wanted to help pick stocks or analyze portfolios for risk and diversification. Instead I was in charge of a mail merge scaring all stale customers "Markets are changing, call me now to adjust your portfolio."