Financial Pornography: Be careful while you open!

this is an old post that I am repeating…

I am asked quite often why can you not suggest ’10 best stocks to buy’ or ‘top 5 mutual funds to invest’ or other simpler articles which can ‘lead us to action’.

I do have answers to all these questions, but it is difficult to convey it in a blog. The way to hell is paved with good intentions – ask any bureaucrat and he will tell you that. For example all the government ‘investor education programs’ are made by people who can do a 4 hour lecture and a 200 page on risk, but have never experienced risk! It is like a male gynaec talking about labor pain.

To me all lists in financial services literature is financial porn. If you think I have invented this word on the fly, sorry it is not original. See this link http://www.investorhome.com/porn.htm

It is easy to understand that a day and age when even smart educated people do not know the difference between a chemist and a doctor for people to ask for ‘Immediate, NOW kind of solutions’. I see the medical profession falling to this requirement of the ‘patient’ who is seen as the ‘client’. However I refuse to address doctors who ask for dinner and booze to attend my lectures.

Hey doc, you need me as much as I need you. If Wockhardt hospital were to do a lecture on how to take care of ‘MY heart’ I would attend it – and perhaps be happy to pay for it. I would not ask Wockhardt (Apollo, Hinduja, Ranbaxy, Fortis are you listening?) to give me food and booze.

Docs get chemists to do seminars and feel obliged to buy some medicine. It is like Wockhardt doing a workshop on ‘Heart care’ and in return expecting people to get a Angio done – just because they feel obliged. I would rather pay Rs. 500 for the lecture and be done ๐Ÿ™‚

If I attend a free lecture and expect food and booze, well what I will get is porn. Understand doctors?

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12 Responses to “Financial Pornography: Be careful while you open!”

  1. Very interesting topic ๐Ÿ™‚ . Just like real porn , if investment porn is banned, most of the business will have to be shutdown ๐Ÿ™‚

    Manish

  2. And the height is Clients (or prospective clients) smirk when told that your Financial Planner is like your Financial Doctor, who you need to trust, let-in on all confidential information etc. etc. so that he can guide you towards your goals through a path of least risk and resistance (this, not without the client’s cooperation). The 1st thing they do is bargain about the fees! Guess how many bargain with the doctor regarding his charges? If being SUICIDAL is in your DNA, leave alone a Financial Planner or a Counsellor, even GOD cannot help you.

  3. Aniruddha,

    “Subra, you have a major communication problem. Not everybody who is ill goes to a doctor. Some are taken to vets. Vets do not ask questions, do they?”

    Luckily for vets they can use anasthesia ๐Ÿ™‚

    – this is the comment a head of Wealth management Made to me during a training session ๐Ÿ™‚

  4. Dr Mohammed Ali Khan on April 26th, 2010 at 5:25 pm

    Dear Subra
    Docs are asking for booze and food to ATTEND your lectures..!!
    you must be kidding..
    We doctors are not that stupid.. Or are we?

  5. Pooja Chopra Goel on April 26th, 2010 at 7:51 pm

    Wooh…!! This had me falling off the chair laughing… ๐Ÿ˜€ As always, playfully satiric! “SUBRAMONEY“ at it`s best ๐Ÿ™‚

  6. interesting!

  7. You are ‘Cho’ Ramaswamy of personal finance!

  8. Muthu you mean Jack of all..and Master of none?

  9. Nope. You may know about Cho better than me. Thought provoking satire and sense of humour even on serious issues!

    I think you might not have missed his โ€˜Mohammed Bin Tughlaqโ€™ when you were young.

  10. serious issues? personal finance? you ought to be joking. If it was so serious people would have benefited by now?

  11. There are souls who get benefit from your writing. How can you say that no one has benefitted? You donโ€™t have data to say this!

  12. This is so applicable to many other fields.

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