3 ms·

I agree with what the author says to avoid but wonder why he did not recommend investing in stock index funds, for example the Vanguard ETFs with symbols VOO or

• Zhenya 6y ago
  Because then maybe he'd be out of a job: "...a New York City-based financial advisor at Ritholtz Wealth Management LLC. I help people invest and manage portfolios for them."
• clipradiowallet 6y ago
  He's an investment advisor - him saying "invest in X" is financial advice, and it can bite him in the ass. Also: markets are [once again] at all time highs, if he _was_ giving investment advice, I'd hope it sounded like "don't buy the top".
• youeseh 6y ago
  I think he's arguing that $1200 into any kind of security is shittier than $1200 in improving oneself professionally and socially.
  • kmeisthax 6y ago
    If you need the $1200 today, then yes. Most sound investing advice specifically says not to invest until you have enough liquid savings to withstand an emergency - keeping in mind that the biggest emergency one might face is usually losing your job. If you don't have that saved up - or worse, are already unemployed - securities are actually a really poor investment due to their volatility. A professional skill doesn't "go down" in the same way that a stock can go down. If you are financially secure for the time being, then buying stocks is a good idea, as you can stick that in a tax-advantaged account for retirement. Large index funds are good for this specific purpose because you don't have the risk of an individual stock getting wiped out. You can hold onto it for a long time and get your few-percent-per-year ROI.