In a Nov. 27, 2013 article titled 50 Unfortunate Truths About Investing, in point 17, The Motley Fool stated: ”Most of what is taught about investing in school is theoretical nonsense. There are very few rich professors.”
The implied message is that the folks at The Motley Fool know something that could make you rich that economics professors don’t know.
I personally know a few economics professors and know of many by reputation. All of them know the meaning of enough. None is interested in the personal bankruptcies which are inevitable given the mindset required to create great wealth. The famous economist Lord Maynard Keynes did become extremely wealthy but he did go through personal bankruptcy.
In a 1999 August issue of the Wall Street Journal, the renowned columnist Jason Zweig stated that an investment system promoted by The Motley Fool was “investment hogwash in its purest form”. Writing in a later edition of Benjamin Graham’s The Intelligent Investor, Zweig called it “one of the most cockamamie stock-picking formulas ever concocted”.
While The Motley Fool is unlikely to swindle subscribers or do anything illegitimate, they do promote their subscriptions aggressively.
The Monday Morning Millionaire Program approach to investing allows members to maintain their career income levels into retirement without encroaching on principal. Investors looking for more need to search elsewhere.
Perhaps follow the advice given by The Motley Fool? Hmm…
On another issue, we recently introduced Level 2 and Level 3 to the “Our Programs” tab. I just finished the first session with a member who scored 47 on our scorecard exercise. He was tasked with five action steps in preparation for our next session.
Do you see many actionable suggestions in today’s flood of investment writing?