There are a few changes that have already or will take place today on the website.
In the footer, there is a new listing called Podcasts. This listing will also appear in the header. Podcasts are divided into public and client only.
Public podcasts include Bite-Size Bites, Connecting Dots, and The TrueStar Podcast. All three can be accessed on our website as well as significant podcasting networks such as Apple and Overcast. Deep Dive is a client only podcast. Current is also for clients only. Click on Get Started to begin the simple process of becoming a client at The Home of Fixed Cost Investing.
Today's Connecting Dots will be about AirBnB. The podcast will be published around noon and will be a rambling discussion about the past, current, and future of travel accommodations.
A few years ago, a revolving group of us attended several Network After Work events in Tampa, Orlando, and Jacksonville. We also sought out other venues such as chamber of commerce and Meetup events. Our goal was to get to a social-business setting for intelligence gathering. What were we seeking? Knowledge about what people think one does in the financial services industry.
From those conversations, we learned that most people view advisors, agents, bankers, broker, and financial planners with a high level of disgust; however, if someone was working with an individual or firm, well then, that was different. Their person was great. This is where LOL would go if this were a Twitter post. It was the same thing everywhere we went. “Congress is full of crooks, but my Congressman is from my party, and he’s great.” And so we tried a few things to move the needle. One was to do a frontal assault and call it the way it is. That does not work. Why? Because most people have no clue as to what they are paying or how their person gets paid. To tell someone, they are being ripped off when they don’t even know they are paying or flatly deny they are paying anything at all is a complete waste of time. And so, the best thing we found is to have a page on the website where we gently explain the problem. Next, we found that most people do not know the difference between an advisor, agent, banker, broker, and planner. For that matter, most people lump all of these titles together into one bag called “financial services.” And of course, people do because that’s what the industry has done.
Current came about as a result of the frustration over the lack of understanding about the complexity and time it takes to professionally manage money. Some think this is easy, some think it's hard, and others can't follow a discussion beyond how to spend money with a credit card. To keep our clients current, we created Current, to showcase current events that we are discussing among the asset management team. The response for those who were given preview access was: “I had no idea…”. As a result, a few items from Current will appear on the Blog, but only a few. If one wants more, Get Started and become a client.
One day soon we will show you how badly most agents, advisors, bankers, brokers, dealers, and financial planners treat their clients by walking you through what we call “The Newsletter Fraud.” In essence, advisors, agents, bankers, brokers, and financial planners commonly use newsletter mills to sent items to their clients in physical or digital format. Unfortunately, there continues to be a significant percentage of people who think the material was created by their person or is an in-house product. Again, soon we’ll show you how widespread the same-old-thing is.
CES will begin in a few days. Formerly known as the Consumer Electronics Show, CES is an annual trade show organized by the Consumer Technology Association. CES takes place in Las Vegas. This year looks to be a big year for many companies to showcase their latest gadgets, software, and systems. CES began in 1967 and has grown and changed from a floating location to an annual monster size event with Las Vegas as the anchor location. Honda and Yandex will be showing their autonomous work vehicles this year, and LG will be pushing their craft brew beer making machine. One of the items we will be looking at with great interest is the development of 3D printing machines on a corporate and personal level.
A few years ago, someone took offense to scantily dressed glamor models being used by some exhibitors. The resulting press caused a ruckus, and most attendees rolled their eyes in disgust over another non-event event. With self-appointed PC police abundant in all walks of life, coupled with the recent mojo of the Me Too events of the day, it will be interesting to see to what degree this or another side-show becomes a dominant topic over the primary purpose of the thousands of vendors, and two hundred thousand in attendance.