We've all heard the term "not financial advice", but why do so so so so so many people say it? I mean, it's not like you're gonna get sued over saying some random shit on Twitter (unless you're famous and promoting an unregulated security that you control).
Those who have been reading my blog for a while may remember that I used to troll this statement constantly. I'd always say things like "this is financial advice" and "everything I predict is 100% guaranteed to happen" and "sell your children into servitude" as a joke. I feel like a lot of people take the whole "not financial advice" thing to an absurd level. Like... get over yourself you're not that famous.
I mean I can certainly see how it all came about. If you say something to a friend or a big audience and they make financial decisions based off of what you said and get absolutely wrecked... yeah... that's not great, unless you're trying to lose friends and followers by trolling them.
When it comes to crypto, financial decisions are multiplied by x100 because of how volatile the space is. When a stock trader moves into crypto and sees a 30% dip: they are shitting their pants. Whereas crypto traders often regard a 30% retracement as totally normally and healthy even in the middle of a raging bull market. Perhaps even because of the bull market we would expect this to happen.
The ironically funny thing here is that everything is financial advice. Here on LEO the entire community is dedicated to providing financial advice and then we set up a disclaimer saying it's not financial advice. It's a fun little hypocrisy that nobody seems to question. Just make sure to call the financial advice not that thing so if someone loses money they won't blame you. Easy.
At the end of the day this is very centralized thinking.
When it really comes down to it the whole "not financial advice" disclaimer is extremely mired within regulation and authoritarianism. Society treats everyone like children and makes these children dependent on them rather than guiding them to adulthood like an actual parent.
No one should be held accountable for giving bad financial advice unless they are a hired professional. It should be obvious that if you're going to act on advice given on a random social media site you might want to double and triple check beforehand.
"Do your own research."
Instead, people do what people do best: blame someone else for the bonehead decision they made. Hardly anyone in this world is actually accountable. After all, what's the point of being accountable if everyone else is just breaking the rules and acting like a child as well? Might as well stoop to their level, amirite? When everyone is a dishonorable rodent there's very little value in being honorable yourself. People like that just get stepped on. RIP Ned Stark.
Hey can we do this to the other Ned too?
At the end of the day people need to take responsibility for their own actions. We shouldn't have to tiptoe around every statement we make because it might hurt someone's feelings randomly. I can support trans people without saying "He/Him" every time I introduce myself, and I can do so better than all the slacktivist pretenders. I'm tired of the virtue-signaling bullshit band-aid 'solutions'. That path leads right back to the children's table. Do people really think that we are going to change the world by forcing everyone to talk a certain way?
Decentralization demands that people start being held to a higher standard. When you are your own CENTRAL BANK, you don't get to come crying back to mommy and daddy after you fucked up. Take responsibility and eat the loss.
There is no one else to blame but yourself. This is the future we are headed towards: and it's going to be a lot more profitable than allowing a centralized agent to run the entire show, even with all the extra risk. That's for damn sure.
Not Not Financial Advice
- Keep stacking sats.
- Ignore the hypocritical haters.
- HODL
- DCA slowly and hedge your bets.
- This economy is much more important than money.
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There's the rub. No one is accountable for their own actions. Reminding people after reading something that could be construed as "financial advice" is simply letting them know that they ARE actually accountable. In a world where, as you say, hardly anyone is actually accountable, I don't think it's necessarily a bad idea to remind them of that fact. I'm not worried I'm "gonna get sued" but, in this day and age, it doesn't feel unreasonable to keep pounding this fact into their brains. I agree, it does feel a little pretentious sometimes like, "Who the eff am I that you would blindly take my advice on financial decisions?" But, it is what it is. Just my take...
Entertaining read as always...
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Basically yes.
That doesn't really stop me from trolling the process.
😂
Lol, Boy i enjoy your posts ;).
If you're not willing to take the blame for something, you shouldn't be taking any of the credit, either! Everybody wants to take credit for successes, but never accept responsibility for mistakes.
That’s a cool take on this.
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I agree.
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cuz we don't wanna get blamed if you follow the advice! It's just a cop-out! DUH
C'mon, you're more creative than that, dude. I don't know you, but seeing as you're an extension of the same universe, it still hurts my human bones to read that.
It really is annoying to be doing my own research to be told over and over to DYOR.
Thanks for pointing out an annoyance that had been a minor pain in the back of my brain, now I will not be able to unsee "DYOR" and "Not financial advice" from the rest of the posts I read today.
Posted Using LeoFinance Beta
Now your comment takes guts. I love your courage to say what others may be thinking, but are to afraid to say for fear of insulting people. 😄
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"slacktivist pretenders" I liked that. I enjoy it so much when things are written in a fair way, with an upstanding attitude, without hurting nobody, but yet being concise and coherent.
To the Moon!
Yep. Me too.
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Hug!
Thanks
Posted Using LeoFinance Beta
Ha ha it's funny cause it's true!
Yep, i have met many of these Jedi blame warriors over the years! Sure, how could it possibly be their fault! 🙈🤣
It’s become boilerplate legalese.
“The first thing we do, let’s kill all the lawyers.”
— Henry VI, Part 2, Act IV, Scene 2
Some things never go out of style.
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True. Why do people live hating lawyers?
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I think it's more a symptom of people generally loving to hate, in loving marriage with their love of also fitting in with the crowd. Also, people generally hate psychopathic/ sociopathic scumbags, so there's that too.
LOL
Its a cross cultural phenomenon it seems...
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Responsibility = Freedom
(Not financial advice)
True.
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I sometimes wondered why do regular people say this.
But you put it in words in a post.
And as proof that sometimes people do things like monkeys, I sometimes add that stupid "not financial advice" on my posts without thinking and while knowing it's stupid for a regular person with a blog.
Posted Using LeoFinance Beta
I sometimes tell readers things like that, not because I'm worried they will sue me and a disclaimer would act as protection, but because I think it's a reasonable and kind thing to do. Some people actually need to be reminded when something isn't advice, and given a prod to do their own research. You're correct though, it's almost never going to amount to anything in a legal setting.
Honestly I feel like some people try to say it just to make themselves look more important than they are.
It reminds me of those disclaimers" people add to their social media accounts sometimes, like "no government or other entity may use my content for any reason without permission" blah blah blah. It's not much better than those viral messages that say "if you pass this on, Bill Gates will deposit $1000 into your bank account because he monitors every email sent in the world". Nonsense perpetuated by idiots, and the rest of us have to keep reading it over and over.
That's definitely part of it.
I'm like a multi-layered, multi-dimensional, onion to myself when it comes to understanding why I do what I do and say what I say.
The more I dig into my psyche on these matters, the more I come to find that my mind is like an echo-chamber of ego-stroking, with innumerable layers that are, more often than not, completely unaware as to the motives of the layer just below it. It's like, at times I'm really convinced that I'm a good person, at others a real big-shot, but mostly I'm just aware that I'm a mess of subtle lies, interconnected to even subtler lies, as if they are the atomic building-blocks of my consciousness.
I'm so disenchanted with myself that I don't know if I'm capable of being serious, with myself or anyone else, anymore. I'm a walking heap of sarcasm, cynicism and, well, since I'm being honest for once, narcissism.
I feel entitled even though I know I'm a piece of shit, deep down. It's quite a conundrum. Then, to prove my point even further, I look at this labyrinth of deceitful concepts that make up my self-image and it fills me with a sense of greatness (there's the ego, again). It brings the question to mind, "who else out there can be this mysterious and complicated, to this great degree that I am? Aren't I great?"
It's like an endless puzzle of smelling my own farts, and loving every second of it.
#deep
#poetry
It's certainly deep, into something. I'm not sure that I want to know what, exactly, that "something" is. Not as the "self" that I'm identifying with at the moment - the "fart-smelling" self.
This an enjoyable read about something I always wonder about. Does it actually protect you? Is it really necessary? Does it say something about your audience or about you?
I don’t know the answer. But I do know I will never look at those disclaimers the same. 👍
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This has been on my mind recently, thanks for posting. You've thought about it more deeply than I have. Every single crypto related podcast I listen to has this disclaimer usually and the start and end of every episode. It gets old. I've had a lot of people asking me about Bitcoin on Facebook lately. I tell them, "Well, since I've practiced medicine without a license in the third world as a young soldier, I'm going to give you some completely unregulated and unlicensed financial advice right now!"
To speak for myself on this subject, I've always thrown that "disclaimer" out there on my TA-related posts because I genuinely don't intend to put it out as advice, because I don't see myself, or label myself for others, as a "professional" or even "successful" trader, and I feel that it's a moderately valuable piece of info to consider, from the reader's perspective.
While I generally agree that, as adults, we shouldn't try to push to maintain constant hand-holding with our metaphorical mother (or maybe sucking on her metaphorical "tit" is more appropriate), I'm aware that we all fall within a spectrum of innate intelligence and trust (in others), that puts a large number of people at risk of being relegated to the position of cannon fodder or, arguably worse, pawns in a chaotic game of political/ financial chess.
In other words, I don't want to hold anyone's hand, but I also want to shield the weak from getting themselves slaughtered. The way I see it, to point out that one is responsible for their own decisions can be a valuable reminder, perhaps not to most people, but certainly to a small percentage who happen to be in a relatively unstable state of mind - the type who might just gamble all their life-savings on that new, shiny ponzi-scheme that their drunk friend just pitched to them, in between streams of vomit.
Furthermore, to make a note to the reader that, even after being in this business of chart reading and stock trading long enough to sound competent when sharing one's opinions on matters relating to TA, one can still lack the confidence to give out stock trading advice, is an equally valuable lesson to the feeble minded, or those who are down, but not out, but down enough to not be thinking clearly.
As much as I'm down to be king of the fucking mountain of humanity, when it comes to my pick of young, healthy women to mount, in this evolutionary game of getting our salty seed out there, I still have enough conscience remaining within me to care, to some very small, barely noticeable degree, about those who're less fortunate than my big-dong-swinging, low-ball-hanging self.
I stopped putting that disclaimer on my posts a long time ago. Mostly because I just forgot or got out of the habit, but also like you said, who really cares what I think...
I think the majority of people who are here reading stuff realize that they need to do their own research. Now, over on Telegram that is a totally different story! I have spent about the last week sifting through people QQ'ing over moves they made without doing research.
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All of the above is great advice but this is one of the most important ones to me. HODL to the moon!
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And hope someone remembered to bring oxygen...
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I am buying EVERYTHING you just told me to buy, thanks for the FINANCIAL ADVICE! LOL, jk jk.
Upvoted!
Manually curated for #informationwar (by @truthforce)
Delegate to the @informationwar! project and get rewarded
Its the truth. I see all those haters saying why doesn't a trade work on those financial youtube channels all the time. People need to do their own research and understand what they can lose in any investment.
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It's all in the tags really. If you're promoting something, tag it 'promotion'. An opinion piece, use the 'opinion' tag. Feel like saying some obnoxious shit that might offend someone, use the 'funny' tag.
Thank you for this tip!
You're welcome.
Why...that makes it less offensive
Thanks for asking! That's so unusual these days.
Historically, leaving it up to the comedians, humorists, satirists, and so on to point out deficiencies in humanity was always the most productive approach to pointing out problems and helping people realize whatever exists and it's fucked up. It's all in the delivery. Bitching, moaning, hating, complaining, pointing fingers; breeds more of the same and goes nowhere. Once people can laugh at themselves, then you know they've come to terms with their own malfunctions and would be more susceptible to change.
You make a good point. By making people laugh at themselves or a situation they let their guard down and perhaps are more receptive to looking at things honestly and perhaps seize the opportunity to grow and change by learning.
I am also glad you answered the why. People are not always allowed to ask questions so they can learn from others.
One of the biggest problems today is they we have many more ways of connecting, but we are more isolated due to the lack of civility and opportunity to ask why without being yelled at or made fun of.
Polite human interactions might as well be on the endangered species list.
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I've noticed how asking a question is converted into an insult by the one being questioned and the response is rarely a straight answer. Tough questions get ignored. And sometimes when people don't understand or misinterpret, rather than asking questions, they'll simply fill in the blanks, create their own conclusions out of thin air, then run with it. That often creates confusion and disagreements by default since the clarification that should have come first, comes last.
You mentioned politeness but in this day and age, especially online, the simple act of saying something someone doesn't want to hear is seen as impolite. Asking questions is erroneously converted into bullying; and before you know it there's an entire mob beating you with word sticks for being different. And once you're down and out, they go back to pretending to be the saviors of humanity, standing up for the disadvantaged from the comfort of their own devices.
Do you think you could stop me from shoving my dick down your throat?
I don't really want an answer to that question... that is, unless you feel compelled to do so. It's just my unusual way of pointing out that, in all likelihood, most people would agree that there is a line, beyond which a word exchange is of palpable "negative value".
You could argue that majority consensus isn't of value when determining what is of true value, relative to _______ (uncovering truth, positively evolving, etc.), but, if that's the case, you really shouldn't be surprised when you get general backlash, and perhaps a few swift jabs to rib-cage, from the peanut gallery, who happen to be the people that society bends its big, stinky ass to.
The Jesus of Great Holy Bibble-babble, er Holy Bible, if nothing else, is a fairly accurate representation of what happens to people who dare to press on in their questioning of the status quo.
Truly smart people distance themselves from that type of activity, despite their burning desire to rip a stinky truth bomb for humanity to incessantly suffer for, as their collective noses soak up its dank, putrid realness.
I wouldn't walk into a Burger King and ask for a Big Mac though. Of course if you play stupid games, you'll win stupid prizes.
This is important to me:
I think that one thing we all would benefit from, is to give people the benefit of the doubt, in terms of assuming, at least initially, that the question was asked in earnest, not in spite.
It's tough I know, with variations in levels of roughness of response based perhaps on regional norms, and various levels of proficiency with the language of discourse.
But if you assume the worst, it colors your perception of all replies. But if you assume the best or at least neutrality, I think it changes the tone of the replies.
Posted Using LeoFinance Beta
Especially online we have to take care to remember tone and body language is missing from the equation. But also, we can't have a bunch of pansies running around trying to figure things out.
That line could be taken harshly, or humorously, seriously. That's kind of a pain in the butt.
hold is the only advice that i know. lol
I have read your writings carefully. You have a reason for everything.You have presented very nicely.I like it
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I guess it takes maturity not to blame someone for unsolicited advice we get from other people. Doing personal research is really important before every decision we make. It's somehow very helpful to consider what people are saying but still do your own research and let their advice just guide us.