I just read that a famous short seller is being charged with a multi-million dollar lawsuit by the SEC because of, among other things, social media posts and other content on the web. This lawsuit has me thinking deeply about the importance of social media, disclaimers, truth, and everyday investors who wish to better themselves with education and their own research rather than blindly following social media posts.
If you go to any search engine and type “Social media defrauded investors” you will get countless examples of people harnessing new age social strategies for their own gains.
With all of this in mind, I am updating my disclaimer page, giving it more life and insights about what I believe in. It’s now going to be even more prominently on my blog, especially showcasing what I think is essential for how I navigate markets myself in this new paradigm where social media and investing meet:
“I manage my own funds, conduct my own research, and follow my own process. I never give recommendations and have no plans to do so in the future. Sometimes I share content about my investing/trading journey, but this does not constitute a recommendation. I am not a financial advisor and never will be.
I am a do-it-yourself investor, inspired by education and entertainment. Everything I share is for entertainment and educational purposes only. Meaning, my desire to improve, get better, learn new things and meet new people.
I strongly believe in a simple principle: Do your own research. Put in the hard work and think for yourself. Avoid following others on social media blindly. In my experience building products for social sharing, I’ve found that many people sharing about financial markets on social media often have hidden agendas.
I am a believer in do-it-yourself investing to avoid unnecessary costs, becoming a product, and ultimately getting ripped off by high fees, unnecessary subscriptions, and financial gimmicks. My career has been dedicated to reducing costs and providing free information and education. That’s all I plan to do and will continue to do.”
The key takeaway that I am constantly reminded of is this: never fully trust what you see on social media regarding trading and investing.
Do your own research.
Be your own thinker.
If you read my blog enough, I think you’ll see very clearly what I believe in when it comes to markets, especially related to my last post about being an individual who thinks freely – see the article below: