There is a guy named Wayne A. who posts and sends emails under an assortment of different names. He generally seems really angry. I do know he is a former Fidelity employee of some sort, so perhaps that is the root of his anger! Nonetheless, he sent in this post the other day:
“So your Trend Following film turned into a movie called Broke: The New American Dream? How quickly trends can change. Well I guess that makes you a trend follower. Who is more obnoxious and has a fatter ass, you or Michael Moore. I wonder which of you goes broke first.”
Wayne. Come on. I am six feet tall and 180 pounds. Clearly I am a tad smaller than Michael Moore… All inane comments aside, it’s not my desire to stop the crazies, but even sometimes the loco ones present an opportunity to clarify and or augment a message. For those wondering about the title of the film (“Broke: The New American Dream”), wondering perhaps like Wayne that the title seems overly “negative” or perhaps is a change from my writings, think again. First, here is an explanation of the film. Second, the title was selected because I believe that it is the new American dream for many to be broke. Meaning, not everyone is broke. Plenty of people are doing well. But if the masses take actions, knowingly or unknowingly, that were not smart or well thought out, their ultimately goal was to be broke. If you take silly actions, actions that other smart people don’t take, even if you tell people that in the middle of taking those silly actions that you really want to do well, I don’t buy it. It’s like Seykota when he said (and I paraphrase) everyone gets what they want. If they did not really want to to be broke they would not have taken the actions they did (i.e. buy and hold, overleveraged real estate, etc.). I am sure some will not get that from the title, but that’s fine, it gives me the opportunity to create discussion and get people to think.