There are times (and I’m inclined to say they’ll be many more) when you need to mark the record to show that maybe what you were espousing at the time, that was in direct contrast to both noted “celebrities”, as well as the so-called “experts” of the day, was correct after all, along with the potential for disastrous consequences to those who blindly followed giving no thought to those potential consequences.
Over the years, as many of you know, that started years back with the ever-growing archive (sample) of FTWSIJDGIGT (for those who say I just don’t get it…get this!)
This was my version of trying to intelligently explain why “I told you so” without the “nah, nah, nah, nah, nah” implication. I just wanted to show the evidence and, as always, let the reader decide.
But then, there are those which stand out and truly need addressing, because the damage that is now being wreaked, and the resulting legacy that is sure to follow, is why I began doing what I do in the first place. i.e., Trying to propose pragmatic sane insights.
This is one of those times.
Entering the public speaking area as to espouse insights of any type whether it be sales, motivation, business, et cetera is hard enough on its own. (it’s been documented showing; the fear of death as #2, and public speaking as #1.) However, years ago I entered the fray and have been railing against what I saw, and continue to see, as pure, unadulterated, bullsh*t being hurled from stages and platforms everywhere.
Let’s just say – it hasn’t won me any friends within the industry. But that’s perfectly fine with me, and actually, is a badge of honor I’m glad to sport.
I am also well cognizant of the irony when I call out many in the financial media as “giving snake oil salesman a bad name” that I could easily be lumped into the “Look who’s calling the kettle black!” It’s a fair gut reaction to those who don’t understand, or have not read or heard of me. I’m comfortable enough in my own skin to understand it. After all, the industry has done it too itself. And if you want to play in or around that sandbox? You’re going to get some sand kicked in your teeth rightly, wrongly, or mistakenly. It comes with the territory.
Then, there comes those times when you find yourself in direct opposition with someone you’ve admired over the years. In this case I’m referring to Tony Robbins.
I like Tony and still do, but just too be clear: I have never met Tony personally. I’m speaking in general terms. However, as of late I have found myself in direct opposition of his latest endeavor in giving financial advice. I have written about this on several occasions starting in 2014 such as “Why Tony Robbins Is Asking The Wrong Questions”, and a follow-up a year later.
At the time I received a lot of push back, most of it bordered on the insinuation variety such as “Who the F___ are you too comment?!” I understood it from a “celebrity” type appraisal, because it is fair to say (and accurate I’ll add) Tony is a motivational speaking icon with global name recognition. And has been for decades. He has earned the right of benefit-of-the-doubt from his followers and supporters. But as I iterated, I’m not talking about “getting motivated.” I’m talking about getting motivated of the financial kind. And this is where I posed my arguments.
Let’s make a clear point because it needs to be addressed before moving on. This is not bragging, or poo-pooing anything that Tony has said or written on the subject. This needs to be made clear for those well within the “Who the F___ are you?” encampment. Again, I understand the “why.” So I’ll make it here:
I have just as many, if not considerably more published financial insights across the web on major news sites, blogs, et al than Tony. And to demonstrate this I’m using just one of what many in that encampment deem a credible source. To wit:
When Tony talks about what Warren Buffett is doing, or what Warren told him one should do when he released his book “Money: Master The Game” (2014 Simon & Schuster™) that’s quite a selling point when trying to sell one’s book. I know I would do it, and it’s a very big badge of honor to have. However, with that said let me give you a “selling point” I could easily use and would be entitled. Ready?
When Warren Buffett’s favorite indicator showed it time to unload stocks, and buy bonds. One of the most widely read financial market resources known as Market Watch™ wrote an article in their Critical Intelligence report for insights before the market opened for the day, and used my insight or observation to help validate that premise. Not Tony’s, not Suzy’s, not Pitbull’s or the thousands of others you see on television or throughout the mainstream financial business/financial media et al, who are easily and clearly at the disposal of such a publication. To wit:
(Screenshot source listed above)
So to those who say “Who the F___ are you?” I’ll let you fill in your own blank.
I only use the above because most people, especially those who only take a cursory approach to business and finance, have heard of Market Watch. And being seen there, or have been quoted or referenced there adds weight for them. However, as I’ve said many times prior and still do: having my insights or opinions displayed on ZeroHedge™ has been my personal badge of honor bar none.
Now onto why all the above was important for perspective. And it is this which was just posted at Bloomberg™. To wit:
“Home sales in Canada’s largest city slid 37 percent to 7,974in June from the prior year, the third straight month of declines and the largest drop since January 2009, the Toronto Real Estate Board said in a statement Thursday. Deals for single-family homes fell 45 percent in the period. Meanwhile, average prices for all housing types rose just 6.3 percent to C$793,915 ($612,000) the smallest annual increase since January 2015. Owners flooded the market with properties, with listings up 16 percent to 19,614.”
Why is this relevant? Fair point. From my article, “They’re Baaack! And Why You Should Be Worried – Very Worried” just this past March. To wit:
This is the moment in time where generic, over simplified advice, that sounds so good (and too good) shouted too an adoring crowd – should be taken as the siren, and clarion call to those who are diligent in preserving their wealth to buckle up, buckle down, and prepare in earnest. For once this show is over? “Over” is going to be something many of those attending these types of seminars are going to pray for – as in “Please make it stop!”
But just like late night television where infomercials for financial and motivational advice are thrown across the screen with more “bonus offers” than a centipede has feet: But wait! There’s more!!” The problem is, I’m sorry to say, much more of the worse variety.
To put the above situation into perspective, along with what will surly be mounting losses by many attending this and seminars like it is this bit of ironic coincidence. Ready?
Shortly after the above real estate roadshow and all its “insights” moved on from Toronto. It went directly to what can only be one of the worst places other than a place that was considered “at the top” of a market with only one way to go. Can you guess where that might be? Hint: Chicago, Illinois. Need a little help understanding the insinuation? Fair point, here are a few of just the latest examples over the course of the last few weeks. To wit:
The only thing that could add insult to injury as the above is surely now inflicting – is for the same group to switch from “wealth and real estate advice” to suddenly flip and use the accumulated email and credit card list to send out calls to attend a “new and improved” seminar on real estate – and financial bankruptcy filings.
I’ll garner to say that the ticket pricing for that one may come at a substantial discount.
But what do I know.
© 2017 Mark St.Cyr