My Sunday Washington Post Business Section column is out. This morning, we look at how the internet evolved as a source of bad investment opinion.
The print version had the full headline How to sort out the garbage of online investment advice; I like the online version hed, Hey, investment cranks: The Internet never forgets.
Here’s an excerpt from the column:
“As Theodore Sturgeon famously observed, 90 percent of science fiction is crap, but then again 90 percent of everything is crap.
In the world of online investment opinions, Sturgeon was an optimist.
Not all that long ago, the perspectives of individual amateur investors and professional ones, too, were for the most part unknown. Most market participants had no way to share their views about individual companies, interest rates, the economy, Federal Reserve policy or much of anything else. They owned whatever investments they owned, stocks and interest rates went up and down, and that was the end of it.”
The concept is pretty self-explanatory. We move through message boards, blogs, social media and then onto the really bad forecasters. You will find it to be both informative and amusing.
Hey, investment cranks: The Internet never forgets
Washington Post, August 1 2015