I have stated for as long as I can remember that hope as an investment strategy is never an investment strategy. Unfortunately due to the explosion of social media like Facebook, Instagram, TikTok and YouTube, thousands of self-appointed experts that took a $300 course in technical charting have been slinging hope so often and so frequently that from the meme of “hope as an investment strategy”, they’ve been able to rapidly build significant follower bases that provide massive monthly incomes to themselves in the form of lucrative advertising revenues. In other words, dozens of financial analysts have used social media platforms to parlay hope (aka, the extreme naivete of their followers) into millions of dollars of income, and consequently and unfortunately, have in the process, transformed the worst investment strategy in the history of investing – hope as an investment strategy – into the #1 global retail investment strategy.
Furthermore, because so many social media influencers that pose as financial analysts have been able to parlay their extremely gullible and naive multi-million follower base into massive annual income through advertising revenues, they also have unfortunately been able to solidify their perception as financial experts, simply due to the undeserved popularity and riches they have built while providing the worst financial analysis and guidance possible.
The first corollary to “hope as an investment strategy” is NEVER an investment strategy should be the following: Flaunted wealth and online popularity of a financial analyst should NEVER be interpreted into expectations of the provision of intelligent investment guidance. That is, unless one desires to be perpetually disappointed.
Because so many fraudulent financial analysts that have risen to prominence on social media platforms and parlayed their popularity and wealth built on the broken dreams of millions of followers continue to sling the same nonsense in devastating frequency, I have made a podcast that discusses the dangers of following such analysts on my substack platform, previously behind a paywall, available for absolutely free today. Here is the link to listen to this podcast that destroys the “hope as an investment strategy” narrative still being actively promoted today as well as access to additional thoughts I have about this topic.
I sincerely hope that this podcast can save many of you in the future from the massive mistake of following the guidance of financial analysts, simply due to their popularity and large number of media appearances.