Market Musings: The Reformed Broker

I worked in the mutual fund industry for over seven years and I’ve spent almost my whole career in Financial Services. My first year on the job was in 2008, right in the heart of of the Great Recession, and a few months before Bear Sterns closed it’s doors. If you’ve read any of my earlier Market Musings then you probably know my story. Many things about the mutual fund industry and financial advice is stacked against you. Though I still like the markets because I enjoy the psychological battle which takes place every single day.

I believe the majority of people should not pay attention to the daily swings in the market. Less people should watch CNBC because it’s basically a stock market hype machine with almost no incite into what people should really be doing with their money. Both of these things, swings in the market and CNBC, only help people make bad decisions.

I’m bringing back my weekly Market Musings to talk about what’s going on in the markets. I’ll try to talk about what you should pay attention to and what you should probably avoid. In the end I hope someone finds this helpful but there is a selfish confession. I hope this weekly post helps improve my knowledge and thought process about markets. I’ll also spend sometime complaining about what is bogus or corrupt. Instead of doing that today. I’d rather you read the following blog post. It’s Josh Brown’s post, “I Dare You,” on his blog, The Reformed Broker.

If you’re interested in the financial markets and not following Josh than you’re missing out. I think him, and his associate Barry Ritholtz, are two of the best market commentators in the game. I check both of their websites almost daily for their fresh takes on what’s happening in the markets.

Go read Josh’s post about the Fiduciary Rule now.