I'm a professional musician and vocal coach, I often have people say I should start a vocal coaching channel on RU-vid and my answer is always the same: Why? Why should I spend years building up a channel, putting all the time and effort it requires, when I'm already making a very nice living doing what I love? All I think when I see RU-vid vocal coaches is "how do you have time for this? I have 5 lessons today, another 4 tomorrow and a gig in the evening" To update an old saying: Those who can, do. Those who can't, teach. Those who can't teach, become RU-vidrs.
9:55 "Success is a lousy teacher, it seduces smart people into thinking they can't lose" Reminds me of the 2008 GFC when it was said "Wall Street Executives Mistook Leverage for Genius" - Steve Eisman (N.B.The character "Mark Baum" is based on Eisman in the film "The Big Short")
I rented that movie on Amazon Prime and watched it last weekend. Excellent movie that is criminally underrated. The symbolic gestures were noted, like the masks at the airport as a futile attempt at protection to keep the toxicity "contained" and the large sunglasses as the old lady "turns a blind eye" to it all. Steve Carrell is usually so silly but this one character (yes based on the real man Eisman) brought tears to my eyes. He is the personification in that movie to the saying, "The truth shall set you free, but first it will (pee) you off." Did you see the cameo of the real Michael Burry in that one scene? A "blink and you miss it" moment, like an old Alfred Hitchcock moment.
When I was brand new to investing a coworker was adamant that I invest in weed, it was her ticket to an early retirement and mine, too. I put $200 on a promising Canadian weed company and it served as a relatively cheap lesson in not picking stocks based on one person’s recommendation and noting more. That $200 is worth less than a dollar today, and yes I still hold it is a reminder of this lesson.
@@BusterDarcy if the company survives it might be worth something someday. I think there _is_ a sizeable market for legal marijuana, just these companies tried to raise capital like a bunch of new smokers were gonna come out of the wood work instead of the reality that the black market is being converted into a legal regulated market. So the capital raise was for an opportunity that was not real, but there is a real and sizeable opportunity worth competing for.
This intro was absolutely hilarious. The video was also very good, and I genuinely enjoy the intellectual veggies this channel provides. Very much needed in the financial influencer landscape.
Imagine this video in a museum 50 years from now, and visiting schoolchildren not understanding a single reference while their 85 millenial chaperone is cackling their head off at the "bored grape" pun
the first 2' of the video makes me admire ur knowledge, ur sense of humor and the effort u put in these video so much... but then the second part has me respect u on another level! great food for thought, and thank you so much for the useful videos!
I'd like to be a live and let live kinda guy. Then I see influencers promoting obvious scams. And suddenly I turn into an inquisitor, who would purge the heretics with holy fire.
Wait, if Plain Bagel is capable of being wrong, who can I trust all my money with? That's depressing. I see all these successful people on RU-vid and Tiktok and they say it's easy. I'm sure they wouldn't lie to me.
The antidote is in stoicism approach, if it go well consider it as luck, if go bad consider it as your responsibility, you have nothing to learn from a perfect trade
I appreciate your perspective, transparency, and humor! You make excellent points about paying attention to risk, critical thinking, and avoiding hot/fad investments.
Yup. Telling people to long or short a position is like telling them whether they should take a shot to the head from a revolver with 2 bullets loaded, 6 chambers. All you can say is the risk and even if surviving will make you a millionaire, it doesn't mean that explaining the 1/3 of the times you die, was wrong.
I felt that as a fervent viewer of the Plain Bagel, I ended up dipping my toes into everything he said he won't invest in. Pot stocks, Ethereum ETF, overhyped tech stocks.. Luckily I did not put all my retirement savings into them. But the bitterness from the losses is still in my mouth! 🤣
Great video as usual; here’s a quote about stocks you can use, it’s from Simon Pare the financial analyst (myself): « the faster it goes up, the faster it comes back down when it finally falls!”
OK, I get it. You say "Do not trust me, it is not advise". OTOH there is a scarcity of useful advise. We hear and see stories of success and failure AFTER the event. People like me may listen to these stories to learn what not to do. For instance: I just listened to the story of "Sharp". Also "Theranos", "FTX", "Japan Inc", "CCP", a.m.o.m. Will that help me? I doubt it but I am entertained.
I hope this vid isn't chancing fate and somehow by some unspeakable metric they all moon in the next two years lmao Proof that all the hype doesn't measure up against good ol' hard financial analysis, loving your stuff PB
Excellent summary on staying humble and level headed. The one take away to add, in particular to Bitcoin, is over the years of its growth in adoption and increase in price we heard the continuous drum beat of it bearing traits like a digital gold’ and being a ‘hedge against fiat currency’ in particular against inflation. If anything ‘22 brought great skepticism to those assertions, maybe time will tell, but a typical hedge like how commodities reacted to inflation is not how ‘digital gold’ behaved.
I find myself defending Kevin more than I'd like. Unlike most of the other young RU-vid finance clowns, he is right most of the time and he's not is usually good at minimizing losses.
I feel like your assessments were critical and honest, which is why they ended up being accurate. There's no shame in raising red flags and then being proven right later.
Hey Richard, I like your principle of discussing risks of popular investment vehicles that people often skip over. Maybe in one of the future videos, you could dwelve into the potential risks of investing in ETFs? Many finance RU-vidrs are really talking about ETFs like a risk-free investment option, but surely there must be certain kinds of systemic risks? (e.g. what happens when an ETF issuer go bust? when major holders/industry of an ETF go bankrupt?). A basic video going through the most fundamental risks for beginners would be greatly of interest. And Happy New Year to you and family.
