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One major driving force behind people’s propensity to follow the crowd is TV and
Radio: “Talking heads.” Millions of people view the financial commentators that
proliferate our media as investment gurus. What people fail to realize is that the
media personality’s number one job is to sell airtime and their book. They have no
idea who you are or what your specific needs are. Generic information is ok as
long as you realize that it will never be sufficient to address your unique
requirements.
Suze Orman is perhaps one of the best gurus at providing generic cookie cutter
information. Before you crown her as the Queen of Finance, please Google
“Questions Suze Orman - New York Times.” In the article, she was asked if she
invests in the stock market. Interestingly, she revealed that she only has 1 million
dollars in the stock market because if she loses it she does not personally care.
Now, this is the very same person who is regularly advising the general public to
put their hard-earned money at risk on Wall Street. At the time the article was
produced, she had an estimated 25 million dollar liquid net worth and 7 million
dollars in real estate.
I would encourage you to learn what the wealthy do with their money and walk
away from the 95%!