Required Reading for Investors
Jane Bryant Quinn, a highly regarded and nationally syndicated columnist, once called much of the output of Wall Street and the trade publications that cover financial markets “investment porn.” She summed it up this way: “Americans are indulging themselves in investment porn. Shameless stories about performance tickle our prurient financial interest.”
The roller-coaster swing of opinion that comes from Wall Street, the media and trade publications covering the industry reflects the attempt to do just that. Pornography is also exploitative; the investment community exploits the individual investor’s lack of knowledge. That’s why I find “investment porn” an accurate, as well as a descriptive, term for much of what passes as expert advice.
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