Moe and Helaine discuss Pound Foolish, how an industry that started as a response to the Great Depression morphed into a behemoth that thrives by selling us products and services that offer little if any help.
Having spent over two decades in the financial services arena, the one universal truth that I’ve come to appreciate is that the future is predictably unpredictable. While there are certainly an abundance of brilliant minds on Wall Street, few will ever have access to their brainpower, and even fewer have the financial wherewithal to put their advice to great use. I remember hearing George Soros once imply that “I’m only rich because I know when I’m wrong…I basically have survived by recognizing my mistakes.” To a billionaire hedge fund investor, mistakes are an inevitable part of the process, but to the other 99.9% of the population, it’s likely catastrophic.
Helaine Olen is a journalist and has been covering personal finance for almost two decades – in her provocative book, Pound Foolish, she not only takes on the financial gurus, more importantly, she will challenge you to reimagine your personal economy. Start by shattering these myths: