Growing up is bittersweet — who doesn’t remember their first day of primary school. You were excited and nervous at the same time. The time had arrived to leave the school of mum and dad. It was painful but necessary.
Best YouTubers on Investing Money
It’s the same with your investing education. The time has come to embrace new teachers with ideas that may challenge your old ones.
Disruptive technologies of the last two decades won’t allow you to invest ‘only’ with techniques developed a century ago.
I’m trying to free your mind, Neo. But I can only show you the door. You’re the one that has to walk through it — Morpheus in Matrix.
Here are some contemporary thinkers to help you navigate the shifting investing landscape, in no particular order.
1. Dave Lee
Dave’s starting point is an acute awareness of his own biases and limitations. No-one comes to investing without embedded biases and ‘some’ lack of knowledge. As Michael Hortonsays
“There is no “view from nowhere,” an unbiased perspective of neutrality. Our starting point already presupposes many things that we already believe, explicitly or implicitly.”
Dave does his homework — research is his way of countering biases and ignorance. At the start of his investing journey, he read seven business books a week for seven years — he is an extraordinary speed reader.
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In addition to the reading, he isn’t afraid to engage with opposing views. Dave engages the ideas and never resorts to personal attacks. He invites many guests on his channel for extended form interviews. His measured approach allowed him to land an interview with the CEO of Lemonade Insurance.
Steven is a self-diagnosed aspie — a person with high functioning autism. This leads him to have a strong dislike for untruths. Yes, not all aspies are the same, I would know, as I parent two aspies myself. However, one trait that seems common to most aspies is intolerance for illogical reasoning.
Steven revels in debunking the fallacies in peoples thinking. He sounded the alarm on Nikola long before the famed Hindenburg report. He enjoys dismantling investment thesis of Wall Street analysts — Gordon Johnson being his favourite target.
His straight-talking style doesn’t win him any diplomacy awards but is excellent for anyone wanting to learn how to spot poorly reasoned arguments. He’s a bit of an acquired taste and uses colourful language at times.
Chicken Genius (I presume not his real name) is a recovering value investor. Value investing places a considerable focus is on a company’s financial statements — the income, a company makes and how much money is in the bank.
Value investing doesn’t work well for disruptive companies like Netflix. Everyone and their dog know streaming is the future, even though Netflix’s financial statements don’t currently show this inevitable reality.
Chicken wants to transition people from value investing. What drives him is the desire to ‘share the simple steps he took to be a millionaire’.
He is a very empathetic individual. You can see it in his second reason for starting a YouTube channel. He wants to defend Elon Musk from baseless attacks of the mainstream media. I don’t think Elon needs the help, but it goes to show Chicken’s heart.
The main lessons he repeatedly tells viewers when considering disruptive companies is to look for:
- proof of concept
- ability to scale
If these two concepts are in place, you can sleep soundly at night — not worrying about your investments.
Galileo is an excitable character who blurts out information at a rate of knots with no filter. He thinks and speaks at the same time. So, be ready to disregard some of want he says. However, please don’t switch off because he redeems your time by delivering moments of pure genius.
He thinks outside the box — 3 years ago he had an episode titled ‘Dear Mr Buffett, Buy Tesla’. Imagine if Mr Buffett had listened to Galileo back then. The recommendation came from Galileo simply observing the threat Tesla posed to Berkshire Hathaway businesses.
Galileo is the only one of the four YouTubers to have written a book. It follows a similar pattern to his videos — with words unedited or not proofread by anyone else. It’s a challenging read, but the moments of genius make up for the negatives.