99bitcoin channel was once a rare crypto channel not doing this but look at it now when Nate Martin is gone.. I have unsub that channel after seeing those stupid thumbnails by the new content poster
Oops. Admittedly I feel conflicted and embarrassed and hate myself for doing it for some videos, but I liked Darin Soat's (How Money Works) nuanced take on this on episode 276 of the Rational Reminder podcast. He basically said we have to play their game to an extent with arguably clickbait-y titles and thumbnails to get people in the door so that we can then give them the good, useful information, and to at least attempt to fight back a tiny bit against all the misinformation out there. Otherwise that person may never discover the former, and the latter sadly vastly outweighs the former. Ben Felix himself of the Rational Reminder podcast has said he's been experimenting with this some as well, and obviously gets some pushback from long time subscribers, but thinks the ends likely justify the means. I think I agree. The sad reality is that playing to the potential viewer's psychology is what gets them to click, and I don't see that changing anytime soon.
I work in finance and can say, I truly appreciate and admire the content of The Plain Bagel. Never change Rich, your content is something even us in the industry learn from👍🏼
Check out The Rational Reminder podcast and Ben Felix's TH-cam channel if you like high quality personal finance content. It's similar to The Plain Bagel and heavily relies on finance journal publications, but presents the information in an easy-to-digest format. Plus the podcast has some really famous industry professionals and professors as guests.
I mean yeah.. but still he cashed out at the top and made a lot of money while leaving his supporters holding the bag all the way down. He has directly contributed to financial ruin related suicides for sure.. I don't think I could live with that but kudos to the guy for just shrugging it off and keep living the life with his money I guess?
@@johnblomberg389and to add to that, was a useful idiot to Adam Aron and AMC insiders- diluting AMC into the dirt. To add a cherry on top, Trey took in hundreds of thousands of dollars in superchats. He should be indicted.
@@johnblomberg389 "but still he cashed out at the top and made a lot of money" But at the end of the video there's a statement by him saying that he's in financial hardship as well. He might still deserve anger or maybe even prosecution but it still seems incorrect to claim that he's well off at the expense of he's viewers; it seems he isn't well off unless he's lying.
they're solid. it helps that they're legit professionals and not some 20-something with too much time on their hands and spends way too much time on reddit.
Nah they suck lol. They responded to me back in 2019 saying to not buy Bitcoin and crypto. Oh boy how wrong they have been about cryptocurrency 😂😂 They are the “GET RICH SLOOOW” types. Have fun retiring at 60 🫡👋
Extremely well reflected, high quality content. Instead of just commenting I thought you deserve one of my monthly TH-cam premium rates. All the best from Germany Thank you!
I’m in graduate school working towards the CFP. Out of the dozens of TH-camrs I watch I would say an easy rule of thumb is if they have their CFA they’re more likely than not higher quality. Channels like this one and Ben Felix are two of my favorites. Also the Rational Reminder Podcast if you want to get super deep on certain topics.
Probably a couple reasons for that. 1) If they have a CFA they're more likely to be working in the finance industry, so they have both domain-specific knowledge and an understanding of how to speak about finance. 2) The CFAI has its own code of ethics and violating that code (by pushing scams or taking any action that's a conflict of interest) can result in the loss of your CFA charter, something that takes roughly 1000 hours of studying to obtain.
You and Patrick Boyle are more than enough for a global outlook in my opinion. If people base their investment decisions on just what a video says the money wasn't that important to them !!
I really like Patrick Boyle, apart from anything else his videos are some of best made and scripted single perosn presentations on *anything* out there. His financial advice seems to be (a) actually understand what you're getting into, and (b) pointing and laughing from a safe distance is always an option. I was watching a fair amount of Wall Street Millenial, but recently they've covered several areas/stories where I'm already fairly well informed, and the kindest thing I could say is that the research is sloppy and way below par. I hope they're not in a death spiral like real engineering. Or that it was always that bad, but I didn't notice.
Here's a list of things which boost these influencers profiles through algorithms: Letting the video loop (increases engagement) Reading, liking or writing comments telling them they are financial idiots Tapping on their profile/videos through any explore pages If you come across one of their videos, quickly open the options menu and select "don't recommend this channel / not interested / or any other option with similar phrasing" Don't engage with them, it only helps them. As for their followers, well they will just have to learn the hard way.
ofcourse not, they want to get rich quick, buy a mclaren and move to Miami to flex their wealth... That's why the "Gurus" get rich, they take advantage of the naïve people... Back in the days the gurus would take money from people with their "sould healing" and their cults, now the modern day cult is "stock market" long gone are the days from the Amazon FBA, they had to move the new scam to stay relevant.
Richard really stepped up the production value in this! Awesome job man this was a great deep dive into finfluencers. Much needed analysis in today’s world.
Great Video - as a retired banker I estimate that 95% of TH-cam finance channels are crap and the presenters haven't got a clue of what they are talking about. I tell my kids there are channels for entertainment and channels for education and ways to distinguish which touch on many of your points. Sadly the entertaining channels are more interesting to watch.
Same. What annoys me especially is all of this talk of "investing". None of this stuff has to do anything with investing, it's speculating, heck downright gambling. This whole social media scene is chasing people into stockpicking who don't have enough cash reserves to have their car fixed without maxing their credit card.
I don’t understand how it more entertaining… They have awful fortnite humor and sound like they high. Plain Bagel completely dry almost British humor. Mwah.
@@saadalvi2436I'm not the original poster you're asking, but Ben Felix's TH-cam channel and The Rational Reminder podcast are fantastic. Start with his channel and then move on to the RR pod for deeper dives on the content he presents in his videos. Ben heavily relies on information from finance journal publications and frequently has industry professionals and professors as guests on the podcast.
I have to compliment you on just how much your editing and on-camera confidence has improved! You've gotten so good at it, and so comfortable talking to the camera, 2021 Bagel probably wouldn't have been brave enough to pull off that car stunt
Finfluencers got me started in opening a retirement account & investing, however I did start reading actual good sources and finding actual CPAs & CFAs to listen to.
Good shout-out to The Money Guy show for the reputable Finfluencers. Followed them for a year or so and as it was past time we needed a FA, we began working with their firm last year, and very happy we did!
Phenomenal video as always. There is a strong desire in Canada (from regulators, amongst others) to address the regulatory landscape to see if it has kept pace with the innovations (for better or worse) in "advice". I think it is not so much a "does something need to be done?" question as it is a "WHAT needs to be done" question. I'll happily be forwarding this video to add to the discussions.
If having a finance degree or financial certification was required to make finance content on TH-cam, there would be 90% fewer influencers in the space.
True haha, although I don't think that's required to post good finance content online. Again, finance is something we all deal with - I think people can share really valuable insights without being a professional or having formal education. At the end of the day it really just comes down to whether someone is responsible with what they post, and if they recognize the limits of their own expertise.
Do you think it's ever feasible that those sort of regulations could be put in place? It seems weird that we allow otherwise. I suppose it's hard to differentiate advice from free speech.
Your restraint is truly remarkable. I mean, these idiots must drive you CRAZY and yet you refer to them and their practices always so respectfully and I am in awe of that! 😂
Great video Richard! I wish everyone was forced to watch this before tuning into the TH-cam finance space. It's sad that there are so many bad players out there. You're right - in Australia, our financial regulator has cracked down hard on finfluencers over the past few years. We now have a rule that you are not allowed to imply a buy/hold/sell recommendation on a financial product without the appropriate financial services license. An unlicensed Australian called Tyson Scholz who provided 'trading signals' to his private Facebook group was recently taken to court, which resulted in a permanent ban for him carrying on business in Australia + he was forced to pay $450,000 of court costs which pushed him to bankruptcy. Furthermore, we also have conflicted remuneration laws that prohibit finfluencers from being compensated via affiliate arrangements from companies that deal in financial products. I think that one is a real game changer. These new laws have definitely cleaned up the space in Australia, and I hope they are implemented in other countries also. Also, that bit with the McLaren was hilarious. 🤣
Ramsey is useful if you’re poor and in deep shit. Shows more dramatic and fun to listen because of that lol. I wouldn’t call it financial literacy if you’re educated.
Thanks for breaking down such a conplex and nuanced topic and research. I appreciate the wide breadth of issues the research covers and how you present it in a succinct and engaging way ❤
The single best piece of financial advice I ever got was "save it before you see it" and that applies to any kind of method that lets you squirrel it away out of your paycheck before it hits your bank account. But that advice is so simple and unsexy that it'd be at best a TH-cam short for a given channel.
Another good and educational video from The Plain Bagel. I am a senior citizen who has been an active investor for about 25 years. There is so much information on investing and money management on the internet it’s hard to know who and what to believe. But I have found that the videos form TPB and well done, well researched and offer objective advice.
My only problem with them is that a lot of their videos are highly repetitive. Once you've seen a few you've seen them all. The financial order of operations they have makes a lot of sense to me and I was pretty much following it accidentally before I found them. I think they're a great intro for people who want to know the basics.
@@TheFireGiver Yup, I only started taking personal finances seriously last year so I found it very useful as an admitted beginner. I imagine if you are more knowledgable already, then you don't really need TH-camrs to give you advice. I do wish they would focus on some of the more advanced topics around invest that become more relevant as you get older.
@@SxC97 They run the channel as a lead in to working with them professionally. So, the older age content you are mentioning is the stuff they want you to be paying for in direct consulting. They occasionally dip into some more advanced tax reduction strategies in the Q&A, and some interesting possibilities are hidden in various shows, but by their own admittance the bread and butter is pretty boring.
@@TheFireGiverironically your issue shows why social media is rife with bad financial advice. There's is a limited amount of content you can get out of giving solid basic information, so if you want to feed the algorithm with a daily viral video you need to dip into hype and clickbait
I think my concern in general on social media is that generally, I believe governments need to punish or re-inforce disclaimers- not only for the finance industry, but for sponsors, ads and credentials. High follower counts doesn’t mean credibility. I’ll say though that even folks that have had contact with industries should make sure they disclose their experience… and more importantly, if their opinions or thoughts change, there should be concerted efforts to update. Unlisting videos are always a great start.
Hey Richard, really glad to see that in the middle of all these finfluencers, there are people like you to spread the truth about investing and not trying to sell anything. Keep up the good work !!!
I'm an advisor. This is one of your best videos yet. I'm glad you shouted out the money guys, their content is excellent. Two cents is great for beginners, also.
I absolitely love that you reached out to Trey, and I love his response. It's staggeringly honest which is exactly what is most needed to deal with scammy & faddy environments.
The 8 that were sued had the charges dropped. The judge ruled that telling others to buy in the open market isn’t fraud, because they dont control the property so people could have sold at any time. He didnt excuse the behavior of giving bad advice, or even promote a stock for the sole purpose of increasing price, but he did say that it cant be fraud
I admire you for taking the cost of renting a exotic supercar to make a point. On a side note, wealth can be built passively. It accumulates slowly with just index funds
I wanted to applaud the amount of hard work and time you put into this video. I guess, we moved from non-financial finance to investigative journalism. And my jaw dropped, big time, so hard that I will have to slurp soups for the next 6 months, Just wow. Impressed.
I’ve noticed that finance influencers are also very popular among the heavily speculative eras of the economy/stock market, I think that might have some huge impact on why they exist
I really like how you also spend some time on the responsible content. Usually, youtube content focuses on the negative aspects of something. While something is almost never that black.
Technically he is, cause he didn't give a balanced approach to his discussion of AMC and it's stock price, but only mentioned the bearish portion, from what I remember watching. There is a bullish and apeish thesis, if the "Financial Advisor" did a more thorough investigation. I'm just a dumb TH-camr, with no financial background, so anything I say is my own dumb advice to myself. 💎🦍💎
This pretty much explains why i stopped listening to financial advise from TH-camrs. This leaves me with heavy concerns having acquired over $200,000 worth of company stocks with no large cap or solid income flow as recommended by certain financial TH-camrs.
I wish to congratulate you on a balance review of available financial advice. Thank you for your efforts to teach us on the dangers of on line financial promoters.
This was great, and Aswath's channel is incredible, you are literally getting up to MBA standards of learning for FREE! Always like your prgamatic breakdowns and insight dude
Unfortunately a fantastic finance TH-camr Kuan in Australia has allegedly been banned due to Australia’s laws. I was shocked! He provided fantastic non-biased information on tax, retirement accounts, etc. He was excellent and explained laws of investing easily. Sometimes it’s gone too far and in this instance I think it has for him. Unfortunately there aren’t many people explaining how laws and taxes work in Australia and I find it concerning. Some information is better than no information. Yes I agree that many influencers out there talk garbage and I’ve noticed the ones which are all about click-bait. I’ve had professionals in the past advise me to not to buy this or do that and they were so wrong! I don’t know who to believe but I find the most useful videos being the ones talking tax laws, retirement fund rules/taxes and general information (not advise) about financial products. Something Australia should allow instead of leaving us uninformed.
I'm actually impressed that I can be both unsurprised and shocked at the fact that zoomers are three times more likely to fall for online scams compared with boomers
I appreciate how you broke this all down, and I was with you right until the end. I do feel it was a misstep that all three channels you recommended are from certified financial advisors, and none from uncertified individuals who actually give good advice, like Caleb Hammer or Erin talks money. That just solidified the feeling that you're trying to gatekeep behind ridiculously expensive and onerous certifications that just aren't necessary to give normal financial advice that's applicable to everyone.
Finfluencers were the reason that I started to care about my financial situation and education. As a German, Finanzfluss and Finanztip helped me with that a lot. So there are also really good TH-cam channels out there!
I am so happy I ended up watching videos like these and of how money works. You guys actually provide good information. And I am happy I wasn’t able to invest when I was 16
Rich renting a cheaper car than his real one to not make us feel bad is such a class act
hes so based
No amount of money can make an Ottawa suburb in March look glamorous, though.
So does he own the whole of Ottawa or just the suburbs?
@Martin-jm8wi or does he rent the whole of Ottawa and own the suburbs?
Yeah, everyone knows his neighbors are always complaining about him revving his Lambo late at night.
My way of filtering bad finfluencers is blocking those with mouth wide open silly expression thumbnails and it's super effective!
Caleb Hammer does clickbait thumbnails and he is fine
99bitcoin channel was once a rare crypto channel not doing this but look at it now when Nate Martin is gone.. I have unsub that channel after seeing those stupid thumbnails by the new content poster
Oops.
Admittedly I feel conflicted and embarrassed and hate myself for doing it for some videos, but I liked Darin Soat's (How Money Works) nuanced take on this on episode 276 of the Rational Reminder podcast. He basically said we have to play their game to an extent with arguably clickbait-y titles and thumbnails to get people in the door so that we can then give them the good, useful information, and to at least attempt to fight back a tiny bit against all the misinformation out there. Otherwise that person may never discover the former, and the latter sadly vastly outweighs the former.
Ben Felix himself of the Rational Reminder podcast has said he's been experimenting with this some as well, and obviously gets some pushback from long time subscribers, but thinks the ends likely justify the means. I think I agree.
The sad reality is that playing to the potential viewer's psychology is what gets them to click, and I don't see that changing anytime soon.
Jeff Snider is definitely one of them
@@OptimizedPortfolionice self promo
The Plain Bagel is not financial advice, while simultaneously being the best kind of financial advice.
Because it's financial education.
It's financial LITERACY. Only your PERSONAL advicer with a FIDUCIARY duty can give you financial advice.
Plottwist: He's reverse clickbaiting us!
Sh*t, time right. There isn't a single bagel in this video.
Yeah, he's not telling you to do anything, just sharing knowlege
I work in finance and can say, I truly appreciate and admire the content of The Plain Bagel. Never change Rich, your content is something even us in the industry learn from👍🏼
Check out The Rational Reminder podcast and Ben Felix's TH-cam channel if you like high quality personal finance content. It's similar to The Plain Bagel and heavily relies on finance journal publications, but presents the information in an easy-to-digest format. Plus the podcast has some really famous industry professionals and professors as guests.
@@evanwheeler7687 Agreed, Ben's info is great too. Something about Canadian financial information?
@@verjason Hah, totally possible. Maybe it's something in the maple syrup.
I work in finance too! I get all my awkward smart guy vibes from him
I've been following you for years. Seeing your sports car today has shown me you're the REAL DEAL.
That’s not his 😂 he says it’s rented. Hes far too smart to waste his money on a liability like that.
@@megaprimegamer1184 r/woooosh
@@megaprimegamer1184 it's a joke lol
FINALLY I can take him seriously!
he rented a cheap alternative so we don't feel to bad about the Koenigsegg or whatever is in his Garage ^^
The bit with the car actually made me laugh out loud. Great video, as always
Ya, this was only 250 to rent. It call a marketing budget, and I make more money in a single day.
Yes, that was a good,one.
Nice car, too!
@@catherinebaldwin6580huh?
I did too, as soon as he walked out of it, I knew I was about to find out how cheap it is to rent a Lamborghini
I laughed out loud when he popped out. It was totally worth the 250 he spent to do it.
Am I wrong or Bagel is slowly getting ripped. Good job on the videos. Always refreshing to hear your non biased thoughts.
Was looking for the comment 😂
I was about to comment the same thing. He is looking 💪
Maybe it's in preparation to fight financial misinformation with a more "hands on" approach
it’s from wrestling with these heavy topics
Hes always seemed kind of big
Kudos to Trey for his self effacing candor.
Honesty is the best policy and kudos to Trey for being transparent and admitting where he was not forthright in his online content.
Was going to say the same thing. That’s so hard to do, big ups to the guy. Hope he’s alright
I mean yeah.. but still he cashed out at the top and made a lot of money while leaving his supporters holding the bag all the way down.
He has directly contributed to financial ruin related suicides for sure.. I don't think I could live with that but kudos to the guy for just shrugging it off and keep living the life with his money I guess?
@@johnblomberg389and to add to that, was a useful idiot to Adam Aron and AMC insiders- diluting AMC into the dirt.
To add a cherry on top, Trey took in hundreds of thousands of dollars in superchats.
He should be indicted.
@@johnblomberg389 "but still he cashed out at the top and made a lot of money"
But at the end of the video there's a statement by him saying that he's in financial hardship as well. He might still deserve anger or maybe even prosecution but it still seems incorrect to claim that he's well off at the expense of he's viewers; it seems he isn't well off unless he's lying.
Came for the advice, stayed for the gun show! Richard’s been lifting the weights! 💪
The Money Guy Show is underrated, so I'm glad to see them mentioned here. Their financial order of operations (FOO) is on point.
They are the best for sure. They have realistic rules and they aren't one size fits all with their advice
They even have a meme page on Facebook now! (Unofficial)
they're solid. it helps that they're legit professionals and not some 20-something with too much time on their hands and spends way too much time on reddit.
Nah they suck lol. They responded to me back in 2019 saying to not buy Bitcoin and crypto. Oh boy how wrong they have been about cryptocurrency 😂😂 They are the “GET RICH SLOOOW” types. Have fun retiring at 60 🫡👋
Frecking awesome we get Richard to guide us through a CFA report, not many people would be willing to do that for the internet.
Extremely well reflected, high quality content. Instead of just commenting I thought you deserve one of my monthly TH-cam premium rates. All the best from Germany Thank you!
I’m in graduate school working towards the CFP. Out of the dozens of TH-camrs I watch I would say an easy rule of thumb is if they have their CFA they’re more likely than not higher quality. Channels like this one and Ben Felix are two of my favorites. Also the Rational Reminder Podcast if you want to get super deep on certain topics.
I love love love RR and Ben Felix. They've been hugely influential in my investing journey.
Probably a couple reasons for that. 1) If they have a CFA they're more likely to be working in the finance industry, so they have both domain-specific knowledge and an understanding of how to speak about finance. 2) The CFAI has its own code of ethics and violating that code (by pushing scams or taking any action that's a conflict of interest) can result in the loss of your CFA charter, something that takes roughly 1000 hours of studying to obtain.
You and Patrick Boyle are more than enough for a global outlook in my opinion. If people base their investment decisions on just what a video says the money wasn't that important to them !!
Ben Felix, too.
I really like Patrick Boyle, apart from anything else his videos are some of best made and scripted single perosn presentations on *anything* out there. His financial advice seems to be (a) actually understand what you're getting into, and (b) pointing and laughing from a safe distance is always an option.
I was watching a fair amount of Wall Street Millenial, but recently they've covered several areas/stories where I'm already fairly well informed, and the kindest thing I could say is that the research is sloppy and way below par. I hope they're not in a death spiral like real engineering. Or that it was always that bad, but I didn't notice.
@@jonathanj8303Patrick can make what the events are in the world into a video that is enjoyable and relatable.
@@jonathanj8303 What happened to Real Engineering?
Not global just NA. Look for people on the other side of the world if you want analysis on emerging markets.
Here's a list of things which boost these influencers profiles through algorithms:
Letting the video loop (increases engagement)
Reading, liking or writing comments telling them they are financial idiots
Tapping on their profile/videos through any explore pages
If you come across one of their videos, quickly open the options menu and select "don't recommend this channel / not interested / or any other option with similar phrasing"
Don't engage with them, it only helps them. As for their followers, well they will just have to learn the hard way.
Also if possible report the video as spam. Sadly sometimes TH-cam doesn't give the option to report videos, at least for me
Sadly those hooked on these influenzas dont watch your channel. Keep it up, my man.
Influenzas 😂
ofcourse not, they want to get rich quick, buy a mclaren and move to Miami to flex their wealth... That's why the "Gurus" get rich, they take advantage of the naïve people... Back in the days the gurus would take money from people with their "sould healing" and their cults, now the modern day cult is "stock market" long gone are the days from the Amazon FBA, they had to move the new scam to stay relevant.
Richard really stepped up the production value in this! Awesome job man this was a great deep dive into finfluencers. Much needed analysis in today’s world.
Great Video - as a retired banker I estimate that 95% of TH-cam finance channels are crap and the presenters haven't got a clue of what they are talking about. I tell my kids there are channels for entertainment and channels for education and ways to distinguish which touch on many of your points. Sadly the entertaining channels are more interesting to watch.
Same. What annoys me especially is all of this talk of "investing". None of this stuff has to do anything with investing, it's speculating, heck downright gambling.
This whole social media scene is chasing people into stockpicking who don't have enough cash reserves to have their car fixed without maxing their credit card.
I don’t understand how it more entertaining… They have awful fortnite humor and sound like they high.
Plain Bagel completely dry almost British humor. Mwah.
98%
Could you provide some good recommendations on insightful and informative TH-cam finance channels?
@@saadalvi2436I'm not the original poster you're asking, but Ben Felix's TH-cam channel and The Rational Reminder podcast are fantastic. Start with his channel and then move on to the RR pod for deeper dives on the content he presents in his videos. Ben heavily relies on information from finance journal publications and frequently has industry professionals and professors as guests on the podcast.
I have to compliment you on just how much your editing and on-camera confidence has improved! You've gotten so good at it, and so comfortable talking to the camera, 2021 Bagel probably wouldn't have been brave enough to pull off that car stunt
Seeing Richard pull up in a super car is the high water mark of what I love about responsible finance content
No sugar coating, just a pure plain bagel reality. So glad I found this channel💪
The funniest thing about this video is that i got a Finfluencer ad before your video started.
Finfluencers got me started in opening a retirement account & investing, however I did start reading actual good sources and finding actual CPAs & CFAs to listen to.
I’m blown away by the candor of this Trey guy. This kind of honestly and self-awareness is rare these days.
I feel like these comments are either made by Trey or ppl he paid to make or bots he's using 😂
@@LJLeungyeah and everyone commenting this all has 1 comment on this channel. Weird
@@RJTradess Nah I agree pretty tinfoil hat comment
Good shout-out to The Money Guy show for the reputable Finfluencers. Followed them for a year or so and as it was past time we needed a FA, we began working with their firm last year, and very happy we did!
Phenomenal video as always. There is a strong desire in Canada (from regulators, amongst others) to address the regulatory landscape to see if it has kept pace with the innovations (for better or worse) in "advice". I think it is not so much a "does something need to be done?" question as it is a "WHAT needs to be done" question. I'll happily be forwarding this video to add to the discussions.
I love how you focus on the risk of investing which is arguably more important vs the potential gain. Thank you for making these videos!
You are a wonderful FOMO antidote. Enjoy your videos very much.
As an aspiring financial advisor I am truly moved by your integrity and your delivery of your message. Thank you bagel man Richard
I’ve never wished for a x10 like button as much as I do now: this is a PHENOMENAL video
If having a finance degree or financial certification was required to make finance content on TH-cam, there would be 90% fewer influencers in the space.
True haha, although I don't think that's required to post good finance content online. Again, finance is something we all deal with - I think people can share really valuable insights without being a professional or having formal education.
At the end of the day it really just comes down to whether someone is responsible with what they post, and if they recognize the limits of their own expertise.
Do you think it's ever feasible that those sort of regulations could be put in place? It seems weird that we allow otherwise. I suppose it's hard to differentiate advice from free speech.
Given the current TH-cam finfluencer landscape, I'd submit that probably wouldn't be a bad thing.
I laughed so hard when he stepped out of the lambo. Quality content as always, keep it up!!
Your restraint is truly remarkable. I mean, these idiots must drive you CRAZY and yet you refer to them and their practices always so respectfully and I am in awe of that! 😂
Really great video. Most graceful way I have seen anyone handling disgraced finfluencers
Excellent analysis! Remember- when someone wants to share their “gold mine “ with you- that just means they need you to move all of the dirt
Love The Money Guy!!!! Highly recommend. They keep it educational and to the point.
Great video Richard! I wish everyone was forced to watch this before tuning into the TH-cam finance space. It's sad that there are so many bad players out there.
You're right - in Australia, our financial regulator has cracked down hard on finfluencers over the past few years. We now have a rule that you are not allowed to imply a buy/hold/sell recommendation on a financial product without the appropriate financial services license. An unlicensed Australian called Tyson Scholz who provided 'trading signals' to his private Facebook group was recently taken to court, which resulted in a permanent ban for him carrying on business in Australia + he was forced to pay $450,000 of court costs which pushed him to bankruptcy. Furthermore, we also have conflicted remuneration laws that prohibit finfluencers from being compensated via affiliate arrangements from companies that deal in financial products. I think that one is a real game changer. These new laws have definitely cleaned up the space in Australia, and I hope they are implemented in other countries also.
Also, that bit with the McLaren was hilarious. 🤣
Fantastic video. I always admire your thoughtful, nuanced takes, the sheer level of effort you put into these, and your commitment to positivity.
Mad respect for Trey for being honest about his shady actions in the past. Takes a real man to step up and admit he was wrong
bot
I started watching Ramsey. From there I found Money Guy. Then I found you! All three of you have been really insightful.
Ramsey is useful if you’re poor and in deep shit. Shows more dramatic and fun to listen because of that lol. I wouldn’t call it financial literacy if you’re educated.
My two cents, get coffeezilla into your rotation.
Ramsey is a hack
ramsay sucks. my costco visa is paid off monthly and i get about $400 back a year
The money guys are great
I know Trey had a health condition... I appreciate his honesty and hope all is well with him.
Yeah, IIRC heart disease which is brutal for someone that young
Thanks for breaking down such a conplex and nuanced topic and research. I appreciate the wide breadth of issues the research covers and how you present it in a succinct and engaging way ❤
The single best piece of financial advice I ever got was "save it before you see it" and that applies to any kind of method that lets you squirrel it away out of your paycheck before it hits your bank account. But that advice is so simple and unsexy that it'd be at best a TH-cam short for a given channel.
Another good and educational video from The Plain Bagel.
I am a senior citizen who has been an active investor for about 25 years. There is so much information on investing and money management on the internet it’s hard to know who and what to believe. But I have found that the videos form TPB and well done, well researched and offer objective advice.
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Bagel, all of us subscribers massively respect you for not selling anything to us. You are a breath of fresh air in the finfluencer space.
Big fan of the Money Guys. Lots of very easy to understand, common sense advice.
My only problem with them is that a lot of their videos are highly repetitive. Once you've seen a few you've seen them all. The financial order of operations they have makes a lot of sense to me and I was pretty much following it accidentally before I found them. I think they're a great intro for people who want to know the basics.
@@TheFireGiver Yup, I only started taking personal finances seriously last year so I found it very useful as an admitted beginner. I imagine if you are more knowledgable already, then you don't really need TH-camrs to give you advice. I do wish they would focus on some of the more advanced topics around invest that become more relevant as you get older.
@@SxC97 They run the channel as a lead in to working with them professionally. So, the older age content you are mentioning is the stuff they want you to be paying for in direct consulting. They occasionally dip into some more advanced tax reduction strategies in the Q&A, and some interesting possibilities are hidden in various shows, but by their own admittance the bread and butter is pretty boring.
@@TheFireGiverironically your issue shows why social media is rife with bad financial advice. There's is a limited amount of content you can get out of giving solid basic information, so if you want to feed the algorithm with a daily viral video you need to dip into hype and clickbait
I knew back in 2020 that I was making one of my best decisions when I subscribed and started to follow your channel, Richard. Thank you VERY much.
I think my concern in general on social media is that generally, I believe governments need to punish or re-inforce disclaimers- not only for the finance industry, but for sponsors, ads and credentials. High follower counts doesn’t mean credibility. I’ll say though that even folks that have had contact with industries should make sure they disclose their experience… and more importantly, if their opinions or thoughts change, there should be concerted efforts to update. Unlisting videos are always a great start.
I generally think that in general it's important to generalize. Sorry, couldn't resist :P agree with your points (in general).
Hey Richard, really glad to see that in the middle of all these finfluencers, there are people like you to spread the truth about investing and not trying to sell anything. Keep up the good work !!!
Trey was the reason my family got into amc. Watched all of his videos. Our $203k is down to $2k.
The plain bagel is probably the only finance channel on TH-cam that I actually trust
And I get a grant Cardone Ad in the mid roll for this video, great job TH-cam
I'm an advisor. This is one of your best videos yet.
I'm glad you shouted out the money guys, their content is excellent. Two cents is great for beginners, also.
Having some coffee and a plain bagel while watching this. Thank you Richard. Love the videos.
People actually eat plain bagels?!
@@evanwheeler7687 yes, they do. They're delicious toasted.
Sir, the “waving away smoke” effect is underrated as f and I have respect for the editing you put into this video
I absolitely love that you reached out to Trey, and I love his response. It's staggeringly honest which is exactly what is most needed to deal with scammy & faddy environments.
25:00
Both of your guys' channels are incredible. So much useful information without the need for unethical tactics.
This should be on youtube's trending page. Great video.
Huge props to Trey for responding honestly to you. That had to be hard.
The 8 that were sued had the charges dropped. The judge ruled that telling others to buy in the open market isn’t fraud, because they dont control the property so people could have sold at any time. He didnt excuse the behavior of giving bad advice, or even promote a stock for the sole purpose of increasing price, but he did say that it cant be fraud
I admire you for taking the cost of renting a exotic supercar to make a point. On a side note, wealth can be built passively. It accumulates slowly with just index funds
Loved the production value of this one. Can see the effort you put in to it Richard 👌🔥
Glad I found your page when I was starting my journey into investing 🙏🏼
Congrats on the gains, dude. Looking forward to the spinoff fitness channel Macro-friendly Bagel
“Plain egg whites”
I love your subtle humor! Thanks for the recs for other solid finance channels.
Thumbnails like your dropping a strange colab rap album and I'm all for it
I like the return of grey background! Welcome back old friend! :)
I’m just impressed how you can produce these lengthy thoughtful videos so regularly and still stay so swole 😉
I wanted to applaud the amount of hard work and time you put into this video. I guess, we moved from non-financial finance to investigative journalism. And my jaw dropped, big time, so hard that I will have to slurp soups for the next 6 months, Just wow. Impressed.
Just donated 2$ probably not a coffee but perhaps 33% of a plain bagel? I like to think that.
It’s funny how I got an obvious financial scam as an ad before this video.
Grant Cardone? Kiyosaki? Crypto 'Bro?
Many my fellow traders love your channel. Even the professionals finding a new ideas in your videos
I’ve noticed that finance influencers are also very popular among the heavily speculative eras of the economy/stock market, I think that might have some huge impact on why they exist
It’s easier to push through scams and pump/dumps when the overall markets are doing well.
I really like how you also spend some time on the responsible content. Usually, youtube content focuses on the negative aspects of something. While something is almost never that black.
Aren't you technically a finfulencer? Checkmate
Wait no!
good old Tu Quoque
Ha gottem!
Technically he is, cause he didn't give a balanced approach to his discussion of AMC and it's stock price, but only mentioned the bearish portion, from what I remember watching. There is a bullish and apeish thesis, if the "Financial Advisor" did a more thorough investigation. I'm just a dumb TH-camr, with no financial background, so anything I say is my own dumb advice to myself. 💎🦍💎
I thought so too
This is a great video. This should be the first video people have to watch before being introduced to finfluence
This pretty much explains why i stopped listening to financial advise from TH-camrs. This leaves me with heavy concerns having acquired over $200,000 worth of company stocks with no large cap or solid income flow as recommended by certain financial TH-camrs.
Why aren’t you selling?
I wish to congratulate you on
a balance review of available
financial advice.
Thank you for your efforts to
teach us on the dangers of
on line financial promoters.
I remember OG TH-cam being less about influencers and more about creativity 😢
OG TH-cam is pretty bad
The question is here is what to do with those biceps! Great work man, thanks for all this content. You're doing God's work.
respect to Trey
This was great, and Aswath's channel is incredible, you are literally getting up to MBA standards of learning for FREE! Always like your prgamatic breakdowns and insight dude
Unfortunately a fantastic finance TH-camr Kuan in Australia has allegedly been banned due to Australia’s laws. I was shocked! He provided fantastic non-biased information on tax, retirement accounts, etc. He was excellent and explained laws of investing easily.
Sometimes it’s gone too far and in this instance I think it has for him. Unfortunately there aren’t many people explaining how laws and taxes work in Australia and I find it concerning.
Some information is better than no information. Yes I agree that many influencers out there talk garbage and I’ve noticed the ones which are all about click-bait.
I’ve had professionals in the past advise me to not to buy this or do that and they were so wrong! I don’t know who to believe but I find the most useful videos being the ones talking tax laws, retirement fund rules/taxes and general information (not advise) about financial products. Something Australia should allow instead of leaving us uninformed.
The comparison between finance advice and health advise is so based.
Did not know that was a term, I assumed this was about a plague of Finnish influencers.
I thought the same thing 😅
Glad that finfluencers are coming under more scrutiny by financial regulatiors. This was a great presentation.
I'm actually impressed that I can be both unsurprised and shocked at the fact that zoomers are three times more likely to fall for online scams compared with boomers
I appreciate how you broke this all down, and I was with you right until the end. I do feel it was a misstep that all three channels you recommended are from certified financial advisors, and none from uncertified individuals who actually give good advice, like Caleb Hammer or Erin talks money. That just solidified the feeling that you're trying to gatekeep behind ridiculously expensive and onerous certifications that just aren't necessary to give normal financial advice that's applicable to everyone.
ooooooh.....Your wife is going to freak out when she sees how much you spent on renting that car for 5 seconds of video.
Your content quality was already high, but this investigative video takes you to the next level higher. Very well done!
Meet Kevin is the Walmart brand of grant cardone 😂
Finfluencers were the reason that I started to care about my financial situation and education. As a German, Finanzfluss and Finanztip helped me with that a lot. So there are also really good TH-cam channels out there!
This video is 6 years late
It’s also 99% pure technical analysis and putting all your faith in using past results to predict future outcomes.
We need the dislike button back on YT darn it!
Props to Trey for getting back to you.
Agreed, he could've just ignored the request or completely denied any wrongdoing.
11:15 love the zoom in on all the red with sharp drops and plateau at the bottom... yeah invest in those...
I am so happy I ended up watching videos like these and of how money works. You guys actually provide good information. And I am happy I wasn’t able to invest when I was 16
I have never paid any mind until he pulled up in the rari. Now you have my attention, sir 🙇♂
there's a solid line between "influencers" and content creators
just ask yourself the direct questions
Thank you for this video. Sooooo many people fall prey to scams!