I’m on beautiful Coronado Island attending Stocktoberfest.
It’s a gathering of some really smart people who care deeply about improving the way we receive financial advice and are working diligently to bust long held beliefs about what is important in making investment decisions.
Discussions include passive vs active investing, social media data gathering, artificial intelligence trading tools, the importance of price action (my field), delivering content how we want it, when we want it and to make trading as easy as a swipe on our devices linked to content we like.
Much of the discussions center around what millennials want. Damn kids nowadays. What do they know? Well…they are driving these discussions.
They don’t want to sit in a conference room with an advisor once a year and get pitched more financial products. They don’t trust brokers, banks or any brands that do business the “old fashioned way”.
I can’t really blame them. I have felt that way for many years now. Which is exactly why I started Smart Chart Investor.
I have been a student of investing for over 30 years and I still consider myself a student. I keep learning and learning. I don’t profess to be a guru. I just try and share what I have learned from my successes and my failures. That is why I am at Stocktoberfest; to learn more and share it with you.
The biggest takeaways so far are…
I am on the right track.
I am part of a wave of creative content delivery outside of constrained systems.
I have to keep studying.
The investing world is changing very, very fast and I have to keep up.
I’m the oldest guy in the room…damn.
Oh, and one other thing…
Price matters; knowing when you are wrong matters,risk management matters, constantly learning matters.
That’s all for now. Off to networking event. My wife told me to lose the aloha shirt and dress younger…WTF?
Next subject I will attempt to tackle over the next few days is active vs passive investing. I think I can drill it down so it’s easy to understand.
I will also do my weekly market update hopefully by Monday. I’m a bit constrained on time due to Stocktoberfest which runs through Saturday and then traveling to Newport Beach. Maybe I can pound it out during the debate Sunday night.
One more thing, checking in …
There seems to be a consensus that oil has bottomed. In reality, no one knows but continue to hold XLE. The good news is, unlike nearly everyone else, I will know when I’m wrong.
Trade Smart,
Don Roth