If he wants to be taken seriously, why isn't he wearing a silk Hawaiian shirt standing next to a Lamborghini with an Ocean view behind him? And sexy girls nearby.
The rule of finance: if the explanation for why a position is worth buying or selling isn't boring, it's probably not true and you should look more into the depths. Finance documents suck to read and make sense of, but anything else is kind of just gambling.
Boring for you maybe, I graduated in finance and I'm sometimes having a blast analyzing financial statements. I would not have chosen my career if I didn't find my work to be interesting.
Hi! I know this is one of your older videos, but just wanted to say how appreciative I am of the advice and information you give here - especially the story about the investor being the only buyer! I watch videos like these to learn more about finance in general, and the story you told was a huge lightbulb moment for me as it helped solidify a concept I don't think I fully grasped until now. Thanks so much!
Analogy in minute 4:25 is from the book "The Wealthy Barber Returns" by David Chilton-more specifically, the chapter is called "The Silent Killer" and the analogy/joke is on page 180.
Your channel came recommended by "How Money Works." As someone with a finance degree I'm so happy that I'm finally finding the honest part of youtube when it comes to finance. The amount of misleading finance youtube channels is disgusting. Thanks!! Subscribed!
“If something that worked was simple, everyone would be doing it…” -Me over here indexing looking confused Love your videos and your insights! Keep it up
Haha probably better to phrase it as "When something is simple that leads to a positive return" above market returns, then everyone can pile on it until the premium is eliminated.
Richard kind of misspoke there. When he said “positive return” I’m pretty sure he meant “excess return.” Earning average returns is easy, you just spread your bets around.
Fun fact of the day: The mechanic Richard is describing with regards to the BNGO guy is called magician's choice. It's a very common deception tactic in magic and con artistry.
FYI to anyone curious, the analogy of the buyer and the broker comes from the Wealthy Barber Returns (at least that’s the only book I can recall that contains it).
On the topic of trading speed: someone paid to have a direct line from NYSE to Chicago for a tiny decrease in ticker delay to trade before CBOE got the data.
Re: “If you’d invested back then you’d have this much now” - there’s also this thing called reversion to the mean, also illustrated by phenomena like ARKK Innovation or the Madden Curse. Someone has a great year, better than anybody would have expected, so they suddenly get loads of press coverage, endorsement deals, new investors, or whatever. Before jumping on the bandwagon, remember that their great performance was noteworthy _because_ it was unusual. True, it may represent a turning point in the player’s career or the emergence of a brilliant fund manager, but often they just had one good year. After that they go right back to being average, sometimes worse.
I think it's regression to the mean not reversion to the mean. In this case regression refers to the regression formulas used to match data points to a function.
But also wrong 10 times a day. 10 sure does seen higher than 2. If put into a percentage, the broken clock's accuracy of being correct is rough 17%. Still like those odds?
I love the Conscious Observer Effect (AKA Heisenberg Observer Principle) when someone is aware people are watching them, so they end up watching themselves and end up influencing their own actions.
Girls see edited bodies and stress that they don’t look the same, guys see dumb-luck millionaires and stress that they don’t have the same at 19. I prefer what you said - don’t stress, you’re doing fine.
99% of these tiktok/influencer “millionaires” are either doing a fake it till you make it lifestyle (renting or borrowing things) or are just straight up trust fund babies/have rich parents parading like they did it themselves. An example is Dan Bilzerian where he said he got his money from professional poker but in reality he an armature who was a trust fund baby. Comparing yourself to those on social media is a fools game, because 99% of it is either fake or showing you selective snippets to craft an image.
Nikola, Enron, Theranos, all of these companies would of been in these lists to invest to only turn out to be scams, not to mention companies like Nokia, Atari, Blockbuster, companies that were legit, but just made some bad decisions and completely fell through, but are in the innovation industry and would of also been part of these pitches. Easy to guess when everything's going great.
The 2 min mark is the perfect embodiment as to the consequences of taking financial advice from TikTok bro's. Ideanomics went from 628.77 in Feb 2021 to 1.93 as of 21st Nov 2023.
Richard thank you for these entertaining videos, keep em coming! Also, you mentioned that there are good TikTok videos on investing, if it's not too much hassle, would you be able to review and react to a few of those too? Appreciate the videos!
Great video as always. I was unaware of your certifications but not surprised at all. I am currently working on getting certified as an Investment Manager (CIM).
I absolutely love these segments- rare to listen to a sensible person providing clear, Concise and very easy to understand rationale for why free advice on social media needs better consideration. Thanks plain bagel always a pleasure.
As of January 4, 2024, price update on the first guy's stock picks relative to when he posted that video. $TSLA: down by 8.8% when adjusted for Tesla's stock split. $WKHS: down 99.0% $GM: down 29.7% $IDEX: down 99.6% when adjusted for Ideanomic's reverse stock split. So, yeah, not great.
Just as I’m watching your video, an add has popped up in which a guy recommends to buy hotels instead of flats because you can earn “10 times more money without trouble”. I work in the hotel industry. Hotels have to be entirely renovated at least every 20 years, which costs millions. Also, if the hotel manager was able to negotiate his contract well, the owner’s income will be proportional to the hotel’s revenue. Factor in that there’s a serious epidemic or a stock market crash every 10 years that make hotel revenues plummet every 10 years. There’s your “10 times higher revenue without trouble”. I’m laughing so hard ! 😂
So weird seeing 19yos stressing over being a millionaire by 21. I was passed out drunk in a coat check at 21 after an all night house party hop. Dude go have fun in your early 20s to hell with being a millionaire.
Most hilarious part is that the 19 year olds that are millionaires by 21 or earlier are children of billionaires. Nobody becomes a millionaire overnight, especially if you're an Average Joe.
“Me stressing about becoming a millionaire” Jesus Christ how out of touch are these teenagers!? 😳 What did their parents feed their brain? Who thinks like that? Wow! Just wow!
There's an epidemic of influencers and fake gurus who implant this idea that they are/you can be rich in your 20s by trading, and actually rich people reinforcing the idea that if you aren't rich and successful it's because you didn't GRIND hard enough or are lazy. That is the fiction that out system pushes.
Mind you he's absolutely selling a brand there. It's a lot like when you hear about those kid geniuses where it's specifically their age that is being exploited for marketing.
They're like home improvements. You shouldn't buy chew toys with the expectation that their value will increase beyond what you spend on them. You should buy them because you like gnawing on them.
Love this, but the sad part is that, chances are, the people watching this already know investing based on tiktoks is dumb. The people that really need it aren't seeing it.
I always thought that insider trading positions/information was backwards looking (previous quarter). By the time you're viewing the information, they might not be holding the same position (s) anymore!
Thanks for checking out the channel :) Not to peddle another video, but I covered some tips for the CFA with this older video: th-cam.com/video/L3WCw8SUxXk/w-d-xo.html
5:15 admirable as that explanation is, liquidity on ERC-20s (which is definitely what those boys had in their wallets) is based on CFMM, which means that the only way they could acquire those tokens without buying them is through an airdrop or minting it. But all tokens rightly bought from from the Liquidity pool are 100% liquid. The scenario you described is certainly possible with L1 tokens but not ERC-20s.
Have you ever noticed that these people with 100K followers always post positions with big returns, but they never show you a yearly performance report?
I think you should mentions insiders only needs to disclose trades on positions they are insiders. Also, kinda curious about your opinion on social media regulations of financial advice and responsability. Should those influencers be held accountable for a bad advice? You know how regulated our industry currently is for better or worse.
Hey @The Plain Bagel! Can creators have a say in what type of advertisement gets played to their viewers? I ask this because it is sort of inevitable that your videos are shown next to extended versions of the sort of fake scam titktok you've watched. I wonder if TH-cam cares
Hi! My understanding is that if we have the specific link to the ad we don’t like we can block it. Unfortunately blocking one link doesn’t mean others won’t pop up. But if you see something truly heinous please dm Richard on Twitter or something!
Even if they show their entire portfolio... past performance is not a good predictor of future performance, even for top hedge funds (they tend not to be in the top funds 5 years later).
I can't tell you how many of these I've seen where the person is just saying how much money you would've made if you invested in a company after it happened.
![[MV] A leap of faith...ความเชื่อใจครั้งสุดท้าย (From "Petrichor the series")](http://i.ytimg.com/vi/U1piZH2CNXA/mqdefault.jpg)
![[TH] 2024 PMGC League | Survival Stage วันที่ 1 | PUBG MOBILE Global Championship](http://i.ytimg.com/vi/FVFT-PFwU80/mqdefault.jpg)
Sorry Richard I can’t take in any of this useful information without you wagging a stack of cash every few seconds 💸
If he wants to be taken seriously, why isn't he wearing a silk Hawaiian shirt standing next to a Lamborghini with an Ocean view behind him? And sexy girls nearby.
Too long; didn’t watch. I need my financial advice expressed in emoji’s and two sentences.
What’s your user name and PFP a reference to?
that’s @@noneofyourbusiness4133
Exactly. My guy talking about his experience and his qualifications but where's his Benjamins? This guy ain't serious.
The rule of finance: if the explanation for why a position is worth buying or selling isn't boring, it's probably not true and you should look more into the depths. Finance documents suck to read and make sense of, but anything else is kind of just gambling.
Boring for you maybe, I graduated in finance and I'm sometimes having a blast analyzing financial statements. I would not have chosen my career if I didn't find my work to be interesting.
Tryrshaugh Road Okay kid, this was for everyone not in finance
Finance is nothing but gambling, just to difference degrees of risk
@@tryrshaughroad551 no one cares
gambling is fun
Love watching this man's headphone cords waggle around as he drops straight investor facts
Wired Headphones works the best
Someone buy this guy proper headphones……
why did you have to do me like that?
Hi! I know this is one of your older videos, but just wanted to say how appreciative I am of the advice and information you give here - especially the story about the investor being the only buyer! I watch videos like these to learn more about finance in general, and the story you told was a huge lightbulb moment for me as it helped solidify a concept I don't think I fully grasped until now. Thanks so much!
Analogy in minute 4:25 is from the book "The Wealthy Barber Returns" by David Chilton-more specifically, the chapter is called "The Silent Killer" and the analogy/joke is on page 180.
Ahh a man of culture
that analogy is why i subscribed.
touch grass
You poor child.
@@BreacherYT touch a book.
You should do this once a month
Week*
+1 I would watch. Very entertaining
If wanting this everyday is wrong, I don’t wanna be right.
Like a period
... Take a shower.
Your channel came recommended by "How Money Works." As someone with a finance degree I'm so happy that I'm finally finding the honest part of youtube when it comes to finance. The amount of misleading finance youtube channels is disgusting. Thanks!! Subscribed!
So glad to see this as well!
It's so refreshing to see a real professional calling out these TikTok gurus.
"its your right to see what high-value investors like CEOs are buying"
right, and even THEY fail to outperform the indexes most of the time.
Plain Bagel might be my finance GOAT i need MORE content
it is BACK and I want MORE, as someone who isn't on TikTok but is an avid investor, these always entertain me!
“If something that worked was simple, everyone would be doing it…”
-Me over here indexing looking confused
Love your videos and your insights! Keep it up
Haha probably better to phrase it as "When something is simple that leads to a positive return" above market returns, then everyone can pile on it until the premium is eliminated.
I mean everyone does indexing I would say
Richard kind of misspoke there. When he said “positive return” I’m pretty sure he meant “excess return.” Earning average returns is easy, you just spread your bets around.
Fun fact of the day: The mechanic Richard is describing with regards to the BNGO guy is called magician's choice. It's a very common deception tactic in magic and con artistry.
FYI to anyone curious, the analogy of the buyer and the broker comes from the Wealthy Barber Returns (at least that’s the only book I can recall that contains it).
The voice of reason! Back for round 2. Looking forward to the next one
TikTokers: "My powers have doubled since we last met, Count"
Richard: "Gooood - twice the pride, double the fall."
lolll
The more I hear that line the more I cringe at it, how did that make it into a movie?
On the topic of trading speed: someone paid to have a direct line from NYSE to Chicago for a tiny decrease in ticker delay to trade before CBOE got the data.
I love the coin guy. "Oh cool, here's someone who's doing some critical analysis" to "Oh, he's still pumping his own holdings"
Re: “If you’d invested back then you’d have this much now” - there’s also this thing called reversion to the mean, also illustrated by phenomena like ARKK Innovation or the Madden Curse.
Someone has a great year, better than anybody would have expected, so they suddenly get loads of press coverage, endorsement deals, new investors, or whatever. Before jumping on the bandwagon, remember that their great performance was noteworthy _because_ it was unusual. True, it may represent a turning point in the player’s career or the emergence of a brilliant fund manager, but often they just had one good year. After that they go right back to being average, sometimes worse.
Related is the "hot hand" fallacy.
I think it's regression to the mean not reversion to the mean. In this case regression refers to the regression formulas used to match data points to a function.
The Plain Bagel, Patrick Boyle & Coffeezilla are my fave fin channels. Keep up the good work.
Remember kids, always buy stocks right AFTER a big news story boosting the share price has just been released. /s
stock up 15% for the day? Probably do the same tomorrow -- right?
@@JonasPolsky unless it's down 15% and you are knee deep in the position, will keep dipping lol
@@S2th1 that’s when you gotta double down 😎
6:18
Remember kids, a broken clock is still right twice a day.
But also wrong 10 times a day. 10 sure does seen higher than 2. If put into a percentage, the broken clock's accuracy of being correct is rough 17%.
Still like those odds?
I love the Conscious Observer Effect (AKA Heisenberg Observer Principle) when someone is aware people are watching them, so they end up watching themselves and end up influencing their own actions.
Girls see edited bodies and stress that they don’t look the same, guys see dumb-luck millionaires and stress that they don’t have the same at 19.
I prefer what you said - don’t stress, you’re doing fine.
I was once one of these guys smh
@@rockefeller13 at least you escaped
99% of these tiktok/influencer “millionaires” are either doing a fake it till you make it lifestyle (renting or borrowing things) or are just straight up trust fund babies/have rich parents parading like they did it themselves. An example is Dan Bilzerian where he said he got his money from professional poker but in reality he an armature who was a trust fund baby. Comparing yourself to those on social media is a fools game, because 99% of it is either fake or showing you selective snippets to craft an image.
@@dogetaxes8893 don't forget the classic scammers.
When you're a girl into finance and you do both :')
Back in the day, Graham Stephan's old age of 26 was the high bar to be a millionaire. I guess now its 21?
I don't know why but when I find out some one is Canadian, I instantly start trusting them more.
Looking forward to part 3. All kidding aside, I’m really enjoying your take on this sort of content
Nikola, Enron, Theranos, all of these companies would of been in these lists to invest to only turn out to be scams, not to mention companies like Nokia, Atari, Blockbuster, companies that were legit, but just made some bad decisions and completely fell through, but are in the innovation industry and would of also been part of these pitches. Easy to guess when everything's going great.
Just the CFA makes this guy the real deal.. only less than. 20% of candidates pass the exam and to retake there’s a waitlist of at least a year.
The 2 min mark is the perfect embodiment as to the consequences of taking financial advice from TikTok bro's. Ideanomics went from 628.77 in Feb 2021 to 1.93 as of 21st Nov 2023.
Top 3 investing Channels by far
Please keep bringing more of these.
Great video, liquidity well explained with the simple story
The roulette table analogy is right on
5:01 the magic beans in ocarina of time
Ok that roulette explanation was amazing
Oh wow I had no idea you were in Ottawa! Keep it up.
These are the perfect balance of entertainment and educational!
Showed up on my recommendations. This channel is a complete dub! Definitely subbing!
You could unironically make an entire channel dedicated to responding to bad TikTok financial advice
3:45 " you are the chosen one "
9:52 " you *were* the chosen one "
Great insights Richard, love this series!
Richard thank you for these entertaining videos, keep em coming! Also, you mentioned that there are good TikTok videos on investing, if it's not too much hassle, would you be able to review and react to a few of those too? Appreciate the videos!
I love these react videos. Entertaining and informative.
Ready for pt 3
Great video as always. I was unaware of your certifications but not surprised at all. I am currently working on getting certified as an Investment Manager (CIM).
Richard is precious. Must protect at all cost.
Protect Richard!
Yay! The reason I found this channel!
Great video!
Just subbed :)
I absolutely love these segments- rare to listen to a sensible person providing clear,
Concise and very easy to understand rationale for why free advice on social media needs better consideration. Thanks plain bagel always a pleasure.
It's funny when you see an ad for stocks, to trade, trade Trade TRADE!!!! just before watching some chill plain bagel.
This video is great because you go through basic things in order to clear things up, and through that we learn !
Next, react to Investing TH-camrs.
This was very informative
As of January 4, 2024, price update on the first guy's stock picks relative to when he posted that video.
$TSLA: down by 8.8% when adjusted for Tesla's stock split.
$WKHS: down 99.0%
$GM: down 29.7%
$IDEX: down 99.6% when adjusted for Ideanomic's reverse stock split.
So, yeah, not great.
Great performance, gotta follow his advice going forward
I love these series, please do more Richard!
We need a where are they now for these
Just as I’m watching your video, an add has popped up in which a guy recommends to buy hotels instead of flats because you can earn “10 times more money without trouble”.
I work in the hotel industry. Hotels have to be entirely renovated at least every 20 years, which costs millions.
Also, if the hotel manager was able to negotiate his contract well, the owner’s income will be proportional to the hotel’s revenue. Factor in that there’s a serious epidemic or a stock market crash every 10 years that make hotel revenues plummet every 10 years.
There’s your “10 times higher revenue without trouble”. I’m laughing so hard ! 😂
The ads on TH-cam are as cancerous as the financial advice given on TH-cam
So weird seeing 19yos stressing over being a millionaire by 21. I was passed out drunk in a coat check at 21 after an all night house party hop.
Dude go have fun in your early 20s to hell with being a millionaire.
Most hilarious part is that the 19 year olds that are millionaires by 21 or earlier are children of billionaires. Nobody becomes a millionaire overnight, especially if you're an Average Joe.
Your 20s are when you get to make dumb mistakes like live off $1 pizza and all-nighters hanging out with your friends.
You guys can have $1 pizza?
(It costs like $15 where i live)
Says the broke 40 year old alcoholic
“Me stressing about becoming a millionaire”
Jesus Christ how out of touch are these teenagers!? 😳
What did their parents feed their brain? Who thinks like that?
Wow! Just wow!
Wasn’t there a song that came out about wanting to be a millionaire so freaking bad? That was the music industry, not parents. Lol
There's an epidemic of influencers and fake gurus who implant this idea that they are/you can be rich in your 20s by trading, and actually rich people reinforcing the idea that if you aren't rich and successful it's because you didn't GRIND hard enough or are lazy. That is the fiction that out system pushes.
@@WinterReflections yep, a generation of people who are going to burn themselves out over an otherwise unreachable net worth.
Mind you he's absolutely selling a brand there. It's a lot like when you hear about those kid geniuses where it's specifically their age that is being exploited for marketing.
Hi Richard,
What is your opinion on the chew toy market?
I've been trying to find expected ROI data but it has proven difficult.
Asking for a friend.
Get your lab to sniff out the good investments duh
You should do direct research by chewing them on your own and find which one you like. If you can do that, you are a good boy.
They're like home improvements. You shouldn't buy chew toys with the expectation that their value will increase beyond what you spend on them. You should buy them because you like gnawing on them.
My brain has been so thoroughly rotten by Vinesauce that I've recognized the BGM at 6:15 segment as crypto luigi theme.
As usual, good presentation. thanks!
I know it's an older video, but for anyone wondering: The book he's talking about is 'Not a penny more, not a penny less'.
Excellent analysis, thx
BNGO is trading at 39 cents. Down 97% in the last 5 years. That prediction didn't age well.
What's worse is Twitter is working with the S&P to make a real time social sentiment ETF...
Love this, but the sad part is that, chances are, the people watching this already know investing based on tiktoks is dumb. The people that really need it aren't seeing it.
If you want to build sustainable growth in your investments, watch a plain bagel video once a day.
I always thought that insider trading positions/information was backwards looking (previous quarter). By the time you're viewing the information, they might not be holding the same position (s) anymore!
Hello richard can you make a video about us tapering ?
Im pretty sure that is an interesting topic to talk about
Somehow I missed that you were Canadian. Great video! I thought I'd ask if you have any recommendations of trustworthy CPAs in BC?
value investing this premium content from the plain bagel. always the good stuff :)
Just found your channel from your video with coffeezilla, have to say, loving it so far. Any advice for a CFA 1 candidate?
Thanks for checking out the channel :)
Not to peddle another video, but I covered some tips for the CFA with this older video: th-cam.com/video/L3WCw8SUxXk/w-d-xo.html
@@ThePlainBagel Any peddling that helps me pass is very much appreciated. Thank you!
been waiting for this one :)
not to mention, stock buys from ceos and congress members and such are often not reported until 30 days after
You have great content keep it up!
OMG, was waiting for this
I don't invest and I don't have tiktok, but I absolutely loved your video.
When do we get more special effects and big head video edits etc?
Nice vid! Thanks 👍🏼
Just a rule of thumb. if 15 seconds clips were enough to make you rich, everyone and their mothers would be rich
how can that man be the only person in the market? Somebody must be selling for him to buy.
I LOVE YOU RICHARD!!!
5:15 admirable as that explanation is, liquidity on ERC-20s (which is definitely what those boys had in their wallets) is based on CFMM, which means that the only way they could acquire those tokens without buying them is through an airdrop or minting it. But all tokens rightly bought from from the Liquidity pool are 100% liquid.
The scenario you described is certainly possible with L1 tokens but not ERC-20s.
Bagel is thinking of order books, there's other ways to have liquidity besides order books.
I like the EV buy recommendation video.
Awesome content.
You know they are financial gurus when they start a sentence with, "all you have to do is..."
Great vid, Love from India
Have you ever noticed that these people with 100K followers always post positions with big returns, but they never show you a yearly performance report?
@The PIain BageI scammer gtfo
This cracks me up. He’s so politely disappointed
I think you should mentions insiders only needs to disclose trades on positions they are insiders. Also, kinda curious about your opinion on social media regulations of financial advice and responsability. Should those influencers be held accountable for a bad advice? You know how regulated our industry currently is for better or worse.
If it's a trade on a company in which they aren't an insider, then they wouldn't be an insider. Kind of self explanatory.
Love these
It's been 6 hours, where is part 3 ??
Hey @The Plain Bagel! Can creators have a say in what type of advertisement gets played to their viewers? I ask this because it is sort of inevitable that your videos are shown next to extended versions of the sort of fake scam titktok you've watched. I wonder if TH-cam cares
They can prevent specific websites, but not anything broader like genres
Hi! My understanding is that if we have the specific link to the ad we don’t like we can block it. Unfortunately blocking one link doesn’t mean others won’t pop up. But if you see something truly heinous please dm Richard on Twitter or something!
Even if they show their entire portfolio... past performance is not a good predictor of future performance, even for top hedge funds (they tend not to be in the top funds 5 years later).
Nice to find a big content creator that isn't wearing AirPods, lol
I can't tell you how many of these I've seen where the person is just saying how much money you would've made if you invested in a company after it happened.
What if you’re 23… should I be stressing even harder since I’m not a millionaire yet…
You should do this format often. It breaks the rhythm and much more educational.