How Much Money Would You Have Lost If You’d Listened to People on TV!

 

Troy:  How much money would you have lost if you listen to people on television giving financial advice and telling you when you should or should not get out of the markets?

Hi, I’m Troy Sharpe, CEO of Oak Harvest Financial Group, CERTIFIED FINANCIAL PLANNER™ Professional (CFP®) and host of the  Retirement Income Show. I absolutely cringe whenever I hear people on the financial news talk about which direction the markets will go in why. Truth of the matter is, the only thing that matters  to people on television is that you tune in the next day to listen to their horrible opinions and you increase the viewership so they can sell more  advertising, bring more ad dollars in.

We’re going to look at a chart that says, if you would have listened to some of the biggest pundits, the most respected financial minds on television,  how much money you would have lost if you just shifted $1 from the stock market, from the S&P 500 into bonds, because Armageddon was coming, because the sky  was going to fall, and because the markets, of course, we’re going to collapse? Kudos to JP Morgan for putting this chart together and doing this research.  What we have here is a listing of some of the most popular people that you’ll hear on television, giving financial interviews, talking about which direction the markets are going to go and the so-called experts

I’m not going to get into any of the underlying bias that any of these people may have, as far as what they do for a living or their stance on certain issues. I’m sure some of that plays into it.  Here’s the facts, if you would have listened to Jeff Gundlach and Nouriel Roubini, if you’d have listened to them, when they said the market was going to crash,  Armageddon was going to come, this was back in 2011.

If you would have shifted $1 out of stocks into bonds, listening to their advice on television, making the rounds telling people  they need to get out, they need to protect their money because the world is collapsing, you’d be down about 60% compared to what you would have had if you just stayed the course, tuned  out the noise, turn the television off and stuck to your financial plan.

Marc Farber, David Rosenberg, David Stockman, Albert Edwards, Peter Schiff, Carl Icahn, George Soros,  Paul Krugman, all of these so-called experts, when they tell you the sky is falling, what this chart shows us is you would have been down anywhere from about  25% to over 60% listening to their advice. Truth of the matter is when you turn the television on, they’re not giving you  personalized financial advice. They’re paid to give their opinions, the opinions are often controversial because they know if you’re afraid, if you’re scared, if you’re in fear  of losing money, guess what you’re going to do?

Tomorrow, when you get home from work, or when you wake up in the morning, you’re going to turn that television on, and you’re going to see what are they saying today.  The more people they get to tune in, the more money they make selling advertising dollars. The number one thing that you can do is have a financial plan, have a trusted financial  planner.

When you are uncertain, tune out the noise, talk to your professionals, and don’t listen to the people on television. One of the things that we’ve done  at oakharvestfinancialgroup.com, if you come to our website here, you come to investment management, Stock Talk podcast, this is a  podcast that we put out every Friday. We’ve put it out for a very long time now, you can go back and for the past 12, 15, 18 months, listen to some of these podcasts.

Chris Paris,  our Chief Investment Officer here at Oak Harvest Financial Group does the podcast. I want to tell you a little bit about Chris, he has his electrical engineering degree from Georgia Tech, his MBA from Harvard.  Chris has managed institutional money for his entire career managing tens of billions of dollars. He’s successfully managed the Invesco Largecap  Opportunities Fund to a national number one ranking, the Quaker Strategic Growth Fund to a number two national ranking for both three and five-year periods.

He was hired  to turn around Invesco’s Constellation Fund, and help grow assets from 14 billion to 33 billion over three years. Chris is just part of the team here at Oak Harvest Financial  Group, but he does the podcast. If you want to stay connected to your money, tune out the noise and help you understand what’s really going on in the markets, which directions we think they’re going  without all the hype or hoopla or concern about ratings. Go to the podcast, I want you to listen to a couple of these. We do this just to keep you connected to your money so you can make  better decisions and tune out the noise.

oakharvestfinancialgroup.com, the investment management tab, and then Stock Talk podcast. Of course, you can also Google Oak Harvest Stock Talk podcast. Also, if you sign up for our email newsletter, you’ll receive the podcast every Friday in your inbox. If you enjoyed this video, I want you to share it with a  friend or a family member, maybe you have a co-worker that you know that is about to retire and could afford to be more connected to their money and tune out the noise from the financial media.  If so, share this video with them, please. Hit the subscribe button and right next to that subscribe button there’s a bell icon. If you hit that bell icon, you’ll be notified whenever we upload new content.  Of course, hit the thumbs up button which is the like button, which lets other YouTube viewers know that this content is good stuff and they should watch it to stay more connected to their money.