How Investment Advisors Invest Their Money
“What you do speaks so loudly, I can’t hear what you’re saying”
-Ralph Waldo Emerson
Emerson’s simple but profound observation should not be so often overlooked. How people behave — what they actually do — is far more important than the mere words that come out of their mouths.
This idea is especially powerful in the field of investing. We hear about “skin in the game,” but we rarely get to see the complete picture. Instead, Investing experts go on various media outlets to tell us what we should do with our own money, but they never show us what they do with theirs.
Don’t tell us, show us.
In the new book by my RWM partner Josh Brown, my colleague Brian Portnoy and by sketch wizard Carl Richards goes deep into the world of finance to answer that question. 25 financial experts don’t tell you what to do with your money — they show you you what they do with their own dollars.
This is a powerful idea, and long overdue in this financial world.