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Jon Stewart as Fiduciary?

Thursday, March 26, 2009

Bob Veres - who is a titan in the financial planning world - was recently interviewed on MorningstarAdvisor.com (subscription required).  Much to my surprise, he was asked about the recent exchange between Jon Stewart and Jim Cramer.  It surprised me to see pop culture enter this realm, but that particular episode of The Daily Show has obviously transcended the mainstream.

First let me say that I respect the fact that Jim Cramer showed up for the show.  He didn’t have to, and the original shot that Stewart took was not even aimed at Cramer.  Furthermore, as Stewart freely admitted, his show takes its shots and makes light of things in a way that may or may not be accurate or truthful.  The point is to be funny, not to deliver news in any kind of balanced manner.  All of that aside, it was clear in the unedited version of this that Cramer bowed to Stewart on just about every point.  Why?  I don’t know, but I do think that the main thrust of Jon Stewart’s “attack” was right on the money:  this is not a game for most Americans.  As Bob Veres replied in the Morningstar Advisor interview, “Stewart is speaking the language of the fiduciary financial planner. He is pointing out to the media that this is not entertainment, its people’s lives. What Jon Stewart is getting at, and what planners get at instinctively is that money runs much deeper than the numbers, the entertainment value and the news. It is tied up with our psychology, ambitions, and goals–everything that we are as people. Treating it as anything less is trivializing it in a very dangerous way. The market does what it does and the financial media has just become an echo chamber.”

Well said.

Tags: jon stewart, fiduciary

General | Fiduciary Standard

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Spending in Ahwatukee

Tuesday, January 27, 2009
On Friday, January 23 Kevin O'Reilly was quoted in an article in the Arizona Republic pertaining to controlling spending.

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General

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How Great is the iPhone?

Sunday, December 14, 2008

Last week, I returned to Phoenix from a holiday trip to Chicago by driving across a good part of the country with my family. That may sound more daunting than it really is for us. My wife and I both generally enjoy road trips, and my kids have become pretty accustomed to it, as we’ve done it numerous times. Still…it gets long and feels unproductive, so I get antsy. On past trips, I’ve listened to many books that I’ve acquired from Audible, and that has proven to be a good way to pass the time.

Of course, throughout the trip I had been listening to a book that I got from Audible. It was a technical book, rather than say, fiction, so I wasn’t particularly glued to it. I had also been breaking that up with my “RoadTrip” playlist, which at present is precisely 236 songs strong. Furthermore, I loaded up on podcasts before we left as well as each night in our hotel room. There are a ton of podcast options available through iTunes, and I’ve never paid for one, although much of the available content is sold through other channels. Most of the podcasts I listened to were oriented toward business and finance, but I also listened to some book reviews, and even downloaded lessons from Coffee Break Spanish and One Minute Irish, although I have yet to listen to the language lessons.

I may have some slight control issues, so I tend to drive for most of this trip. When I did yield the wheel, I quickly realized that the iPhone can be a really strong productivity tool beyond all of the audio options I’ve mentioned. While my wife drove, I was able to send about twenty emails, including some that essentially became real-time conversations. I made several phone calls. I scheduled three or four meetings for the day or two after I arrived back in Phoenix, and I even responded to a couple of text messages. This took place through rural Oklahoma and New Mexico, and I was fully connected at all times. If you’ve ever typed on an iPhone keyboard, you’ll understand why I mostly restricted my email correspondence to matters that were timely and important.

Prior to buying the iPhone, I had a Blackberry Pearl that I liked for its portability and the functionality it provided. It was great for corporate email and was synced with my calendar, and it had a couple of other applications that I found useful. I almost bought another Pearl when I left my employer to start my financial planning practice. However, I was intrigued by the iPhone for the same reasons that most customers are, so I checked it out. I had already been an active iPod fan. It turned out that the iPhone would work with my mail system, and the functionality available through the App Store was very impressive. I was excited about the prospect of combining my phone with my iPod, and the price difference between the iPhone and the Pearl and other competitors was negligible, so I went for it.

I’ve been saying almost since I purchased the phone that it has been one of those rare cases where a leading edge gadget has exceeded my expectations, and the ability to get some things done while driving across the country has done nothing to dampen my enthusiasm.

Tags: iphone

General

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