The Disciplined Investor – Trusting what’s online

I had the chance to do a podcast interview with my buddy Andrew Horowitz on his show, The Disciplined Investor. You can hear the episode here. Here’s Andrew’s description of the show from his site:

Who can you trust when looking for investment and financial advice? We discuss Trust and Transparency in the modern age. There is so much information out there and we take a deep look at the problems with mixing amateurs and pros in the analysis and recommendation of investments. The main question we all ask is how the end user can discern if the information they are reading or listening to has embed bias. There is a growing concern as Web 2.0 has made it relatively easy for anyone to broadcast their opinions and comments without any significant oversight.

Parker Conrad ( argues that credentials are not very important while John Havens ( wants references and track records. John C. Dvorak ( thinks that nothing is different today and skepticism is prudent. Watch out for the fluff.

I had a great time doing the show and was intrigued to find myself cautioning against blind trust of new media. (Typically I’m lauding it versus presenting caveats). But I think it’s absurd to say that just because someone writes a good blog post you can trust their expertise. You can trust they’re a good writer and appreciate their argument, but experience does mean something.

Do you want a lawyer who talks a good game or has a record of getting clients good settlements? Does your investor write a good blog or does he/she have a long list of testimonials from people who he/she has helped make money for? In the best of both worlds, someone is a great writer with a lot of experience. But give me a trained surgeon over the Doctor with a pithy post and no experience.

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