IMHO it’s because it’s easier to rely on someone who has acquired a reputation as knowledgeable because of their media/celebrity status, than to go out and spend time reading at the library, online, or subscribing to personal finance magazines.
It’s one thing to take advice from Suze about saving money, it’s quite another to rely on her or Jim for recommendations on what to invest in.
I find Orman’s advice to be common sense, practical and on-the-mark. Cramer is a stock trading animal – he has vast knowledge of how the stock markets really work but I don’t follow his advice.
Some people don’t like to think for themselves. They’d rather rely on someone they consider knowledgeable.
But I remember some years ago, Suze Orman was saying in a television interview that NASDAQ was a good buy around 2200, after it has declined all the way from 5000. But NASDAQ continued to decline all the way to 1100 during the following couple of years. And anybody who listened to her advice probably lost a lot of money. Because most people would sell long before they have 50% losses.
Perhaps Suze Orman is good at what she does. But even she can’t predict the stock market well.
Both people have marketed themselves. And they won! Jim Cramer is a big bag of wind. Suze Orman, is goofy, but has some products that would be helpful to people.
Personally, I would lump Dave Ramsey in your question, but that is just me. Jim, Dave and Suze are on TV becuase they are charismatic, outgoing, and entertaining as hell! They are entertainers! Some of their advice makes logical sense, some of their advice is actually fairly good, but a fair amount of their advice is VERY misleading and/or untrue!
Unfortunately, people these days look for instant gratification and watching a 30 minute TV program is easier than meeting with a real financial planner or reading a real financial planning book to learn how the real world actually works.
Here’s a clip from a 1976 movie that speaks more truth than most people will ever know! Truly wise beyond it’s years!
One quote to summurize the clip:
“And when the 12th largest company in the world controls the most awesome goddamn propaganda force in the whole godless world, who knows what shit will be peddled for truth on this network?”
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IMHO it’s because it’s easier to rely on someone who has acquired a reputation as knowledgeable because of their media/celebrity status, than to go out and spend time reading at the library, online, or subscribing to personal finance magazines.
It’s one thing to take advice from Suze about saving money, it’s quite another to rely on her or Jim for recommendations on what to invest in.
I don’t know, I’m waiting for the punch line… the suspense is killing me…why?
I find Orman’s advice to be common sense, practical and on-the-mark. Cramer is a stock trading animal – he has vast knowledge of how the stock markets really work but I don’t follow his advice.
Some people don’t like to think for themselves. They’d rather rely on someone they consider knowledgeable.
But I remember some years ago, Suze Orman was saying in a television interview that NASDAQ was a good buy around 2200, after it has declined all the way from 5000. But NASDAQ continued to decline all the way to 1100 during the following couple of years. And anybody who listened to her advice probably lost a lot of money. Because most people would sell long before they have 50% losses.
Perhaps Suze Orman is good at what she does. But even she can’t predict the stock market well.
Both people have marketed themselves. And they won! Jim Cramer is a big bag of wind. Suze Orman, is goofy, but has some products that would be helpful to people.
Personally, I would lump Dave Ramsey in your question, but that is just me. Jim, Dave and Suze are on TV becuase they are charismatic, outgoing, and entertaining as hell! They are entertainers! Some of their advice makes logical sense, some of their advice is actually fairly good, but a fair amount of their advice is VERY misleading and/or untrue!
Unfortunately, people these days look for instant gratification and watching a 30 minute TV program is easier than meeting with a real financial planner or reading a real financial planning book to learn how the real world actually works.
Here’s a clip from a 1976 movie that speaks more truth than most people will ever know! Truly wise beyond it’s years!
http://www.youtube.com/watch?v=MTN3s2iVKKI
One quote to summurize the clip:
“And when the 12th largest company in the world controls the most awesome goddamn propaganda force in the whole godless world, who knows what shit will be peddled for truth on this network?”