The Growing Hatred For Finance Influencers | Asmongold Reacts
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- Опубликовано: 5 июл 2024
- by @DonnaIRL • The Growing Hatred For...
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Игры
Shout out to Graham, Kevin, Andre, and Jeremy for deleting the entire catalogue of the Millenial Money Podcast after they promoted FTX hundreds of times on it. No Acknowledgment, no apologies, just pretended it never happened. Sheer grifters.
their entire lives will be spent constantly looking over their shoulders. All it takes is the wrong or right person to recognize them wherever they are
"That's the mothereffer who told me that coin was a sure thing because they were so heavily invested in the coin"
Now I agree with Asmongold, fools and their money are soon separated, but that doesn't mean I am going to lose any sleep when these thieves end up in a basement with someone else and their blowtorch.
I was wondering what happened to those episodes
The issue: if it was just Yotta people would think okay nobody is perfect. But almost everything they promoted was a bust. They just wanted the money and views and no DD was done. Andreis NFT and shitcoins were a 90% loss. He was still making blockfi videos after other exchanges went under. Meet kevin covered so many stocks that are down huge, Graham saying too risky to buy a house vs renting but then shills FTX. Basically what the shirtless guy in this video was saying back in 2021 on his channel. Established titles was also scummy. Cathie woods is also a horrible investor yet she makes millions a year to manage (lose) people's money. The whole finance space is gross.
@@heavyhebrew I'm pretty sure they never said to invest into a specific coin as that would break ftc guidelines on being an actual financial advisor. If you don't know a person should not advise anything specific as it opens them to a lawsuit as said person did not have the financial information of the individual. This is the reason they say they're not a financial advisor as there a bunch of legality assoisated. FTX is probably a bad example as the bankruptcy ended up as an 18% gain for people who used the platform which is crazy as normally bankruptcy will normally mean almost total loss.
@@kennyadvocat taking a paid sponsor is not the same as promoting.
I like how scam artists rebranded to "influencers". These guys existed before the internet.
They just got smarter, da circle of life, to fool the dummy to feed the rest
I agree most of them are scam artists. What you want is someone who has what is known as a fiduciary duty whom you pay who has a degree belongs to an association and has a reputation to protect and a career to safeguard. So they have something to lose if they cheat and are scammers.
@@ANGRYWOLVERINE2060-ft2nc yep
@@ANGRYWOLVERINE2060-ft2nc Even then people find a way around that. What you want is the ability to think for yourself. You also need to spend a lot of time studying what you want to know. The biggest reason why people get scammed is that they don't put in the necessary work to research what they are doing.
Instead of watching one 10 minute video, you need to spend a couple hundred hours studying and an equal amount of time critically thinking about what you studied.
@@emansgaming910 Its just the reach, amplified via algorithms.
My assumptions; if an influencer tries to convince you to buy crypto, it's because he wants to raise the value before selling his.
@@DonCDXX this
I mean the early adopters of pre 2017 are the only ones actually benefiting from crypto.
My only advice is to buy crypto when you have funds you’re okay to lose. $100 into bitcoin, then forget about it for the next 10 years.
@@robster7787 the very essence of a MLM 🤣
Well.. there is someone promoting just about every crypto out there..
That should be the assumption when anybody tells you to buy crypto :')
It’s worth remembering that shady salespeople are literally who run the entire earth. They are the most OP character class and they operate without moral constraint
Not all
If RUclips had a system where you could give videos “negative upvotes” the general public might be safer from bad financial advice...
...mmm hey you might be onto something here
Even adding the extension to re-add the dislikes is still extremely disingenuous now since RUclips still tracks dislikes and that is why the extension works but almost everyone who doesn’t use it think it is useless so they don’t dislike the videos giving them a higher like ratio.
What about a Community Notes system, like X/Twitter?
It's wild they removed the dislikes over joe biden in 2020 lol
That would fix so much.. not just the scammers.
Because they are getting rich using the same methods scammers have used since the 80’s. “Buy my books”. “Subscribe to my course”. I really don’t know why people fall for this crap.
Desperation homie...that's how!
Desperation and lack of understanding, encouraged in the education system.
There are a lot of new suckers out there every year, who haven't been around since the 80s.
I remember chicks trying to sell me Herbalife in the 90's
@@whenpigsfly8178 i seriously don't understand how you're blaming the education system when people aren't just smart enough in general.
every public schools teach you critical thinking. every single one. basic financial literacy like ponzi schemes is introduced in goddamn middle school.
He speny $97 to learn that valuable lesson...i spent a full set of rune armor and a 10k gp tip.... we are not the same
Is old school RuneScape still good I want to go back someday but I can’t ever get my account back ;-; cause I can’t access that email
@beasthaven1571 yeah that definitely sucks. But it's the exact same addicting game from back in 2007. I play on the phone and it plays really well on there. Can't really do bosses but everything else is easily done on the phone :)
I have to disagree with asmon about "its not the influencers fault". If you looked into Yotta for 1 minute, it was advertised as a "can't lose lottery bank". So yes, it is 100% their fault for grifting a bad product, at least for Yotta.
Exactly. This take by Asmon shows he clearly is hiding something or plans to grift bad products. Hes not STUPID his words were chosen wisely and those words expose malice.
Markiplier who has been a RUclipsr for over a decade and has taken atp at least over 50 sponsor deals over his career from different brands did not catch onto yotta, the sheer experience behind mark being unable to catch onto yotta exculpates the rest. I do agree that graham and them are dickheads and have done shit like this knowingly before but whether they knew or not about this banking thing is pretty much unprovable with someone like mark falling for it as well
They make money by taking yours in exchange for questionable advice.
Sorta like assmongold
@@samuelberson8202 yeah asmon has to be the worst out of all the finance influencers
@@FeedingKittenslol yea a real wow / mmorpg finance guy
@@FeedingKittensyeah, I’m done taking financial advice from him.
I mean he's pretty good at saving his money and not spending big
They all moved on to property management once the bull run ended and you couldn't throw darts at a wall with a bunch of random stocks.
15:20 Dave Ramsey
@@jimba6486 Dave Ramsey lies a lot
Oh man, that's all they do. It's when market drops a lot is when you see the real traders. These fake traders, ask them about geopolitics, weather, ceo being replaced, etc and how it affects the company. Gonna bet they will answer that's macro and it's irrelevant, aka to lazy to research a company.
Lol I love the people buying a car wash/laundromat etc. I've looked into car washes in my area they are all crazy expensive 2-5 million. If I had that kinda money I would live off the interest
Bull run still going baby! Up 25% in 6 months! We got another 10% to go at least!
Social media revived the "snake oil" market
And RUclips videos and ads❗️
If you tube didn't have financial scammers for advertisers, they would'nt have any advertising.
They don’t influence me because I don’t have money to be influenced.
dat a smart stradgedy cuh
Well the idea is that they influence your day to day life
lmfao...
Checkmate.
The day will come when you will have A LOT of money. 😏
Yup. People can't use you if you are useless.
The only investment advice that applies to the vast majority of people is: put your investment savings in a low-fee index fund. Active investing is a profession; if you're not in it, don't worry about it. No one should be paid for saying this.
Also, live below your means
Nah
Well said. Track the s&p 500 with an etf, retirement done. Get rid of social security for all those except for who actually really need it
Be born with rich family or in or near a reach neighborhood and network.
Or do crazy viral stuff in the interwebs.
@@wahahabuh Re: living below one's means-true, although that's pre-investment since investment presupposes having money to invest. But yeah, positive cashflow is pretty darn fundamental.
It all goes down to laziness. It's easier to just trust some service than do extra steps to ensure you don't get scammed. Convenience is trap.
How exactly is one supposed to do the right step on their own if they didn't have parents that showed them how to properly invest?
I trust Caleb Hammer. But his advice is basically "Stop spending money on doordash and racking up credit card bills."
The advice most people needa follow the most sadly
that's all he really can give to people who are so far down in debt that they literally cannot do anything else with their money other than to pay off their credit cards 😭 his videos really does get repetitive
Just say "This is 100% true, but might not apply to you"...
They taught it to me in sales but it's a greasy way to put all accountability on the buyer.
caveat emptor
Everyone should learn sales psychology.
We owe the victims of scams for being the one who took the bait instead of us. Much respect.
They're beta testing everything for us
This.
No, they are the ones that keep the scammers around. If there were no stupid people falling for scams, there wouldn't be scammers.
On the other hand...if scammers didn't have such an easy time scamming, maybe they would put more effort in making them more dangerous? Hmmm... maybe you are right, you don't have to be good at not getting scammed, just better than enough other people that it's not worth it to scam you.
lol remember the scottish KNight land plot you could buy and become an "official LORD" lmao
Not even similar.
I mean i havent met a lord yet...
One thing I noticed is that a lot of these guys got rich during the 2008 financial crises. They basically made bank because tons of people lost their homes. This made them think they were geniuses. Most are just grifters who were at the right place at the right time and got lucky, so of course it ends badly like this.
They are really no different than those late nightly 12am to 6am TV info commercials in the 80s and early 90s.
Don't assume they have any money.
Yeah they all "started with real estate" and got into it "a few years ago."
"Anyone who is more successful than me definitely got there cause they were lucky"
I'm sure the world will recognize your genius someday guys. Keep coping
"Lucky to be in the right place at the right time" is cope.
The most hilarious egg in face with the FTX scandal was Kevin O'Leary. You know, the guy from Shark Tank? One of the big names in finance got scammed.
Kevin didn't get scammed, Kevin got paid. Kevin was part of the scamming team.
Lots of people were taken in by that FTX dude. Lots of politicians, too
You get burned playing with fire
That gets me every time. Shark got scammed.
He's not a big guy in finance, only in finance media
Graham is part owner of that bank not a bank technically so yes he’s more guilty with that than randoms who took a shady sponsor deal.
Yeah, his part in the whole dispute is bigger because he invested and promoted it. He didn't just take a sponsorship on the product for his channel but went above and beyond to invest in the product as well. Which he should be held to a higher standard because of that to his audience.
So... part owner because he bought stock? Or part owner as in he helped run the company and made decisions that led to the failure? Also, seems like he lost more than the people that watched his videos if he bought into the company itself since it is failing... (keep in mind I have never watched his videos or care about him in any way)
@@hulkslayer626 he ran a video he since deleted ofcourse and it started hey guys I just bought a bank well not a physical bank let me tell you all about it and why it’s such an amazing thing. Him making or not making money doesn’t really mean much at the end of the day. He also lied and mis represented what it was as a business he portrayed it as a bank when it’s merely a middle man to a bank meaning when the inevitable happens the people have zero recourse. Absolute scam through and through.
@@hulkslayer626 he made a video called "i bought a bank"
@@Chickenfriedpenguin I know. I saw the clips in the Coffeezills video. But what I gathered was he bought shares in the company after it was established and running, right? He didn't help found it. He didn't help run it. He wasn't a CEO who made the decisions that led to the downfall. He just purchased shares and stock because he thought, like a lot of others, that it was going places. So he got screwed even more than his viewers. Also, I got the general impression that it wasn't an actual "Scam". There is an issue with 2 of the subsidies that are arguing back and forth about transactions. It wasn't a "pump and dump" or anything. Am I wrong about that? If so, specifically which part? Thank you in advance for any insight.
Can a GPS give good advice? Yes. Can a GPS give bad advice? Yes. You just have to be able to differentiate the good advice from the advice where the GPS is having you drive into a lake. This isn't any different.
There is something of a difference. A GPS leading you into a lake only requires functioning eyes to see. Financial scams aren't necessarily that easy to spot if you don't understand how that world works.
ClearValue Tax is the only finance youtuber who is honest almost to a fault. He frequently calls out other youtubers as being fake and even shares his youtube revenue with subscribers.
I would also add Sasha Yanshin to this thread, whose fiery thumbnail backgrounds are at much more palatable than say... Steven Van Metre's "gloom and doom" due to actual report/data analysis.
Clear value tax is a crypto shill
@@BigT209 that's a joke. You can't name one crypto he has "shilled" whereas most of the other finance youtubers were in bed with FTX
Them FTX sponsors are coming back to haunt people.
People should have listened to Larry David.
There was a finance guru teach bosses to do business, his past business history is all failure, the most successful business is how he taught people to be a better boss.
sounds like a well established mandatory management course
Future? The look sketchy
Sounds like a lot of college professors haha
sounds like all the Consulting firms out there. Almost all of their Consultants had never ran a company before, and they are advising people how to run their company.
Guy sounds familiar. Dunno who exactly
People must not remember Mike Chen and 6 minute 6 packs lol
There's a reason why the law states you cannot broadcast medical, legal, or financial advice _without a corresponding license_ to go with those specific topics.
Its only illegal to give financial advice if you have insider information and its only illegal to give medical/legal advice if you are acting like you are a certified professional on the subject.
It's only illegal to charge money for financial advice. You can go out of your way and tell anybody anything you want but if you want to charge them money you have to have a license.
This is technically not correct, as the other commenters have pointed out
Probably wouldn't be bad if it were illegal. Can't tell you how many times I've been like "Hey I've settled 400 cases directly on this issue as a licensed professional I can tell you X" but some burger king dude yells more and gets more likes and gets to screw up everyone's lives with deranged false advice because everyone goes "me no like lawyers" (usually because of 1980s meme jokes not any actual experience with a lawyer).
are you a lawyer? this can be considered legal advice as you are talking about a fact about laws, and wrongly, as others have pointed out.
you cannot express interpretation of law ("there is a reason why") since that is a topic only suited for lawyers and policy makers by the logic that you are implying. and you have not delivered a license allowing you to speak about this matter.
also, since this comment is public, this must be considered broadcasting.
When you are in a field where your mistakes fuck with peoples wallets, you will ALWAYS eventually find yourself hated.
>mistakes
Riiiiight
Year, sure. Finfluencers are not legally held accountable to meet their fiduciary duties. Go hire a proper financial analyst.
Finfluencers? These have been and always will be known as Finance Bros.
You mean scam influencers?
God I am sick of people throwing bro at the end of whatever it is they don't like... crypto Bros, AI bros, Bernie Bros, etc...
Theres a difference. Finance bros don’t by definition make content about finance, more likely random bank/invest firm employees
But finance bros also includes the people who fall for dubious products and keep believing in them even when they fail
The 4 Horsemen of the Financial Apocalypse:
- Don't Meet Kevin
- Andrei Jerk
- Stiffin' Grifter
- Financial Illiteracy
Don't meet Kevin - loooool
Anyone telling you that they're going to help you get rich is selling something and you're their target victim.
I can't believe the "from broke to multi-millionaire" guys are untrustworthy.
Just once I'd like one of them to go 'I was broke, then I bought a lottery ticket, got absurdly lucky, now I'm a millionaire! Anyway, here's my advice on how to wash dishes quickly, since that's all I can speak on with any authority' or something. I believe there's people that went from broke to made but how replicable is that. I imagine a lot of luck or privilege is involved.
The envy and greed of people to keep thinking there is a way to get rich quick without luck and who you know can only be explained with one maxim: "people are stupid"
Easy to do when u get most of ur money from daddy to take off.
@@bararobberbaron859 mostly lies and/or privilege...very very few are 'lucky'
I only believe Shawn dowlette that guy is insanely good
Just run for Congress, and watch your money multiply infinitely.
First, you have to have a law degree to be able to BS your way up 😂
Invest in NANC Unusual Whales Democratic ETF. Its an ETF that tracks what insiders that create financial laws, invest in. You'll get the same stock's Nancy Pelosi's husbands is told to buy.
@@jimmielin1141eh that’s not really a requirement nowadays either.
@@CommanderWar64 but you do need connections
Minority Mindset is listed on here but I don't think he's a scammer, I never seen a video of him selling a scam.
after what scam bankman did no way i will trust people who has finance on their profile.
Almost 100% of the time all those ads and yt channels are there to give you access to some thread on discord or some app with (not necessarily wealthy people) or some cheesy course giving common sense advice for how to make money…😑
What’s ironic is their (“gurus’”) way of making money is literally thier students and I’de be willing to bet the only way they can follow through or deliver to a student is to have them learn to sell hope to new students 🙄
Those kinds of videos have the one highest advertiser payout. Credit card companies and financial institutions love this stuff
This guy sits and yaps Infront of a camera and says "be creative, it's easy" the lack of self-awareness on how basic and uncreative his videos are is astounding LMAO
there are a lot of innocent young people out there that can't even conceive of someone that would purposely rip them off... that does not make the scammer "smarter" than the innocent person. there is more to it than that
No one has ever helped random people get rich out of the goodness of their hearts.
People tend to forget that its a shitty world we live in. No one will go out of their way to help you without benefiting them in some way. You can argue your friend or family will but to count on strangers, good luck man
@@akiramurakami3177 Their are only very very few people who are inherently selfless, like single digit percentage. Their is a reason why those kind of people are bred out of the gene pool
@@Yggdrasill8
Im one of those people and all i do is get taken advantage of.
Within myself i try not to be the people i dislike but society makes that very difficult. Only jesus christ helps now.
Not exclusively at least. When I look at Mr Beast for example, at least a part of that is altruistic, but clearly a good chunk is to have content he knows people will click on.
@@thestarisalie You have to be wise about when you put yourself out there. I got to a point where I got tired of being the only one playing by the rules but I didn't want to undermine the better person I was trying to be. I still don't have the perfect answer must in most cases I just let situations take there own course and stay disconnected until I'm convinced I can "do the right thing" without being set back by it. It's disgusting watching people degrade themselves into animals fighting to be king of the hill. But with kids, I got my priorities and who's opinions only matter. Everyone else, even other family and friends, have to find their own way. But that's me. Just keep in mind Jesus knew when things were a waste of time, he kept silent before Pilot and would remove himself from a crowd getting out of control. Letting the world beat you down doesn't help anyone or yourself. Exercise restraint and precision and good luck.
The reason people like them so much is because they are literally financial influencers, the fact that people lose money by listening to what their advice is, is what makes them so disliked, if a videogame youtuber gave you bad directions on the most optimized way to farm a material than no one would hate them, but in this case they are quite literally finance influencers, and instead of losing materials you lose money
It's like the teacher giving you all the answers to the test and you still fail
"It's not their fault." It is with Graham he said he was a part owner of the casino bank scam thing. He absolutely can be blamed for the banks scams.
SO basically these finance RUclipsrs watched Kenneth Copeland and Creflo Dollar, and just essentially used the same shit for "finance".
Kenneth and Creflo are also in finance, they just wrapped it in religious nonsense. These prosperity preachers are actually worse than the finance bros.
The thing I hate about these "finfluencers" are the constant stream of click-baitey titles in their videos.
To be fair, that's half of RUclips if not more.
Doesn't make it better unfortunately....
I know what you mean. I remember very vividly like a year ago that I saw the exact same titles from all these guys: "China about to bankrupt, prepare now". 5 or so finance youtubers with nearly identical thumbnails and titles.
I asked my Chinese friend and he was like: wtf are you talking about, economy is doing great. lol
You don't "get rich", you build wealth. Anyone who wants to get rich is doing it wrong and will lose money.
Very well said
My boss used to work for one of our country's major banks and I stick to his advice. He once said: "By the time a trend is discussed in public, it's already over. The experts anticipated the change weeks before the first finance magazine wrote about it."
"A bank that turned into a casino"
Insert "always has been" comment
Call me a traditionalist, but any 'bank' that hasn't had to contemplate a physical, real world robbery of a branch, isn't a bank. I know it doesn't make too much sense, but if I can't walk in there and look a bank employee in the eyes, I don't consider it a bank.
@@bararobberbaron859 I agree, if you do not have a massive building with columns and faux classical architecture, how can you call yourself a financial insitution...you are broke bruh!
How is a bank a casino? This comment makes zero sense and shows a infant's understanding of the banking world.
@@bararobberbaron859 Ok you don't consider it a bank but you'd be literally wrong. Boomer
@@warcraftarthasit partially is a casino, they take their customers deposits and loan them out to businesses and individuals, sure some have high collateral and low risk, but products like consumer loans have high risk and could be considered gambling. Also, ever heard about investment banks and their sales&trading divisions? The whole business is gambling with risk management, of course the money is raised in terms of LP/GP fund structure and the investor acceps the risk, so it is not unethcial. But remember 2008? Loans were given left and right and many of them defaulted, consequently many banks collapsed because of the bank runs and fucked the whole economy. So yes I don't agree it is a casino, because you don't come there to gamble, but the banks, they do gamble with your money.
There’s no money to influence
this
Also this
The Rich Dad Poor Dad guy is in the same boat. He wasn't rich until he started selling his bad advice for getting rich.
Say "Tough shit stupid" to a desperate person is a sign of a bitter human being.
This hatred has already graduated and moved out.
This
It dropped out and is here to stay lmao
I like how financial youtubers get a pass for promoting bad companies, but Kevin Oleary gets all the hate for crypto companies he's promoted which go bankrupt. If it's influences we like, we give them a pass.
To be fair, he constantly touts himself and gets touted as a financial expert from his seat in Shark Tank. But without getting deep into corporate, private files, he couldn't have known the state of FTX. And when you see entire teams and stadiums and other celebs doing it, the pitch is good, the money is good? I don't blame Kevin on this one. Don't like the man but its not like the scam was super obvious, because it started out legit, then they got too greedy and started displaying gambling addict behaviour and imploded the whole thing.
One younger person I counsel bases their entire plans for adulthood and life on “block chain” and then “reinvesting their capital into starting an air bnb chain”… and they “already have a foot in the door because they took the class and was soooo good, they offered them a sales job of finding other people to take the class
The only good one is Humphrey Yang imho
HE never tries to sell stuff and acknowledged how fucked the average Joe is.
True, there's a couple good ones in the ranks
I feel there is a growing hatred for any influencers.
Special treatment for people who aren't anything special, yeah its bound to rub people the wrong way. Many of them are out of touch too, not saying they don't have problems, but to pretend they aren't getting some of the highest 'dollar per hour of effort' is insane! Make $2000 (after costs/tax) for a 3 hour podcast with a sponsor (assuming 2 hours of negotiating and looking for topics etc.) is $400/h. Meanwhile the Walmart greeter gets $15/h? Yeah, don't expect the Walmart greeter to feel bad for you when you say you've 'been putting in so many hours' lol. Some of them out-earn Cardiologists and trauma surgeons, being essentially pointless instead of lifesavers. The hate is justified.
I feel like most of Asmon's advice would be a combination of Machiavelli and Marcus Aurelius.
"You can't control what a bad person does. You can only control what you do....so you're an idiot for falling for what the bad person does. " sounds very similar to Aurelius.
"You're acting on how you think the world should be, as opposed to how the world is.....and you're an idiot for doing that" sounds very similar to Machiavelli.
And hey, there are way worst philosophers to base your belief around.
Acting solely according to how the world should be just makes you Don Quixote, but acting only in response to how the world is turns you into someone without compassion.
You need both in equal measure.
Trouble is that Machiavelli also said something like "You can't treat your workers like crap and pay them as little as possible. There has to be at least some incentive."
Well, turns out that was completely wrong. They'll just come to work angry.
I agree, both have interesting ideas. In general with what you quoted, indeed, because both are referring to the same (virtue) ethical philosophical concept(s). One from the individual perspective, the other from an applied individual perspective on the realism of society. You could narrow that down to Socrates. Both have much more to say and are based on their interpretation of stoicism and realism at the time.
As for Machiavelli, I do think he is one of the worst to base your beliefs on. He wasn't the first to think this way, it was just not socially accepted for leaders or people in powerful position to hold those views (although they may be temporary correct). They are held to a higher standard due to the fact they aren't just individually responsible. But you could interpret and apply his views purely for learning and understanding the world as an individual.
Machiavelli went far beyond that and wanted (political) "power" everything was justified to get more of it. He basically wrote a "modern" handbook (The Prince) for how to be, bad a successful practical tyrant, in politics and beyond. He turns ruthlessness and treachery in matters of principals. Not only that, but he turned it into an in a system and laid down the foundation/ wrote the handbook that changed politics forever and is still used today. It twas Stalin's favorite work
Why aren't there boring, average good politicians who do care and know what they are talking about, don't use fear, manipulation and lies as a tactic or take responsibility?
Machiavelli explains it, or you can extract it from his work and see how it's openly applied today. This is in stark contrast to how people want their leaders to be today. Or with the scholastic doctrines of ethics and politics in previous time periods and history. Where politicians, tribe or monarch leaders often had absolute power (which Machiavelli wants) and were partially selected/educated and advised on good moral virtue's/ personality traits. And didn't go down the road, normalized the degenerative corrupting Machiavellian process to obtain power no matter what.
People are shitty animals and are looking out for only themselves at the expense of others. Asmongold is being real with you, thats how life is and thats how people really are.
@@lv1543 Maybe some people are but not everyone
Tai lopez for $97 taught that one dude how to be a GOD like Salesman, he literally got $100 for Nothing, but just a Description.. THAT is Next Level !!
One guy kept pushing McDonald's. Yeah, I don't eat there. Not investing there
That’s hilarious
The absolute WORST example I can think of is Matt Kohrs. He was pushing his viewers to buy call options and hold no matter what for AMC after it had already pumped, at the worst possible time. And with a straight face he continued to tell everyone to hold as the stock tanked. It was his claim to fame and he just pretended like it didn't happen. I remember seeing him say something like "it doesn't matter if I sold my options" as everyone watching him lost everything they had put behind him. He might actually be a plant to find bag holders.
Agreed
All influencers….all
Lmao. I read the title without wearing my glasses. I was convinced that is said French influencers. 😂😂🤣🤣😂😂🤣🤣
Never take advice from a man who drives in a rented Lambo, sits at his desk with stacks of cash on the desk and says, "i dont really brag or gloat or show off my wealth".
The thing about many of these financial gurus is that the advice they give will be feasible if you have enough money to play around with (which most people who fall for the grift don't). And the real grift is that these financial gurus didn't have money to play around with when they started. They got that money through their content, by pretending that they are already swimming in money.
I mean, there's a cottage industry around these things, where these so-called "financial gurus" are making money by selling courses and teaching aspiring financial gurus how to grift other aspiring financial gurus. It's an endless circle jerk between greedy grifters and greedy people who don't have what it takes to graduate into being a grifter.
If someone says “this is not financially advice. Do your own due diligence” then maybe you should put on your big boy pants and understand the decisions you make with your money are your own to own.
How childish.
You should always do that regardless of any disclaimers. But at the same time, the disclaimer doesn't magically turn advice into non-advice.
@@bogdanlevi of course but the reason they say the disclaimer because if they don’t they can be sued and possibly face jail time.
I invest my money into a whopper with cheese everyday and it's going pretty good
Bro Caleb Hammer and Financial Audit changed my life. I just paid off my last credit card and personal loan, only outstanding debt is house and wifes car. It started off we stopped the BS spending and then we attacked the debt. going to be maxing 401k and living life not paycheck to paycheck for the first time in my 40 years on this floating rock
Inflation is deflating peoples patience
The problem is that when you build a platform/following based on good advice the people assume the influencer did their homework on the product. So while some things our out of peoples control its the fact that people rely on the advice. So when something goes belly up the only people losing are the followers. Not the owner of the product and not the influencer.
The people who got richest during the gold rush weren't the miners, they were the folks selling pickaxes. 99.9% of these "I got rich by using this course" are getting rich by selling the courses.
I bought a course from Tia Lopez. It didnt have anything to do with finance. It was more about situations and prioritizing. It really helped me in my early 20s. So he's not all bad.
My biggest problem with these influencers that promote something that completely falls apart (FTX or Yotta) is that they just go back and delete EVERYTHING to act like they never did it. Then they don't even get a lawyer prepared statement of saying they are aware of the issues (obviously not admitting fault or apologizing, since they opens them up and I get that). They just act like they never mentioned it and just go peddling out their next videos with their next promotion like nothing has happened.
That's strong man personal finance 😂
I followed two of these guys when I first started trading and it didn’t take me long at all to realize that most of their sales are coming from selling content, not from their pro trades
These scammers are always looking over their shoulders, stress levels must be interesting.
The only one i listen to is roaring kitty, if you know you know.
Sick of him too
i like the stock.
@@StaceyAllen418 he puts his money where his mouth is, these other finance influencers always keep their positions quiet, if they even have any.
Look, clearly things have become tainted with greed and other behind the scenes workings to gain views and attention.
Simple advice, looking at these financial channels, don't spent a dollar on them, don't follow their advice or suggestion, don't promote anything about them. Just get informed on what they're saying, don't believe what they say but get informed on the topics they talk about. They clearly research relevant topics to get views, but its like watching a reviewer, they may be biased and paid by a sponsor, but you can see the video and reflect on their view and see if they brought up an interesting point for you to personally evaluate. But take it for what its supposed to be, informational topics.
Meet kevin was right. Teslas at 250 now....
I would love the advice stream. I don't even play wow, but I like to hear how you think about different topics.
I trust sensible frugal influencers more than finance influencers. People who tell you to buy rolex and lambos are suss AF. I trust the one telling you to buy a second hand Toyota/Honda than people who wear brand name crap.
Wrong, these finance influencers wouldn't tell you to buy luxury stuffs. It's the opposite, they'd tell you to stop buying coffee at starbucks as if the coffee is the only thing stopping you from getting rich.
Used cars are a little risky to purchase. It is better to save up and buy a new car for cash and then save up for your next car 15-20 years later. Never take a car loan that charges you for early repayment, and if you do take a car loan pay it off immediately. Only go to one mechanic with your car, and make sure they are honest before you start going there. The reason you save for your car is that the interest on your saving/investments will make you money, where as if you take a loan it will cost you more money. If you can't save enough money for a new car, then a used car is worthwhile until such time as it takes more than 25% of its wholesale value in repairs at two consecutive tune ups, or more than 50% at one tune up. The ideal amount of money to save for a car is $300 a month. I understand not everyone can do that, but if you want to optimize your financial return, spend less and save more. My preferred maximum spending on luxuries is 25% of the amount I save per month.
That fact you trust any type of influencer shows
Ingvar Kamprad who started Ikea owned a shitty car, but it lasted him quite long. Expensive cars will only give you an expensive outcome. x) It ain't worth it.
Exactly, I dont trust strangers off line and especially not on the internet
Keeping track of who has how much is the entire point of a bank.
So you pay taxes for infastucture and public transport. But when you want to use it, you still have to pay 😂😂😂
Finance influencers and motivational speakers are all scams. 😂😂😂
grew up poor
Hope is a finite resource
that hit me hard - fuck i hate people who punch down.
Rice and beans
Beans and rice
Spend less than you make.
And noodles.
The hatred should be for the people themselves who believe random people on the internet. You deserve to lose your money.
It's like in a horror movie and someone walks into the woods saying "who's there?"
If you understand that everyone in the world either wants your TIME or your MONEY, and you also assume that everything is a scam, hen you’ll never get a taken advantage of.
Asmon i love you my guy keep up the good work ill always keep watching
You know asmon didnt make this video right?
If you take your financial advice from a bunch of youtubers, you deserve to get finessed out of your paycheck
Graham was a real estate agent. Nobody should ever listen to him for anything other than becoming a real estate agent.
The only one we like anymore is Caleb Hammer 🤣
Til you found out that it's all a setup haha
@@rick_takahashiin due time
@@beasthaven1571 oh you didn't know? They're all paid actors
Only a minute in and you nailed it!!! I watch Financial Audit with Caleb Hammer and i have not and would not "buy" anything he promotes or sells. But I listen to his advice. Because he says the same things over and over and over. He doesn't just come up with the "latest and greatest" things or change his advice based on whats trending. It is basic, essy to understand mathematically sound advice. Period.
Wait, Caleb promotes investments and financial services on his channel now? I watched him a couple of years ago and I don't recall him doing that.
@bogdanlevi I dont think he sells those things, I know he promotes an investment app but its a free app and he never mentioned specific investments
@@bogdanlevi Apps like Moomoo and those budgeting ones probably
@@gabemartinez2558 that's not an investment, that's a financial service.
@bogdanlevi He has at least 2 "ads" he does during the show. The last one I remember seeing was for a Law Firm. He also has a budgeting class and I think he does an investment class he sells personally.
Having had Financial Advisors as clients of my Accounting business the thing to remember is that their livelihood isn't coupled to their clients making money. Do some basic homework and invest for youself, and most importantly diversify your portfolio.
And just like gambling never invest money that you cannot afford to lose.
The other thing to watch out for is pump-and-dump (finance version). Basically someone talks up a stock, crypto or other financial instrument because they want to boost the value through new buyers just so they can sell their holdings at a higher price,
The problem is that the advice always goes like this:
1) Have start up money or have rich parents
2) Buy stocks or real estate
3) ???
4) Profit somehow
Yes, because there's no other way to do it. We live in a capitalist system. Capital is money. The whole system is set up to reward those that already own capital or in ways where the person who puts capital into a business gets a larger share of the profit than somebody that just puts in work. There aren't really ways to circumvent that system. You can start some businesses on a relatively small shoe string budget and use that to make money, but the businesses you can realistically do this with are pretty niche. In general you have to start with money from family, or spend years working for somebody else and save money on the side, to get the capital required to start investing it. The reason you don't see financial advice on how to invest nothing and get something back is because you can't. That's not a thing. No other entity in the market needs your investment of nothing because they can't do anything with it. Nothing doesn't help them.
@@shaunzink7542 You completely missed the point because you wanted to rant, thank you for your useless input. “We live in a society!” Ya don’t say?! I never would’ve guessed.
Fell off
Caleb Hammer is still a 10/10, though.
Til you found out that it's a set up though 😆
I like how "finance gurus" have very successful businesses, but they decide to teach others how to make quick money instead of scaling or optimizing their own businesses.
How to invest : just buy as much SPY as you can starting as early in life as you can.
See? Finance is easy.