I have a moral problem with investment advice. My own moral problem.
I have run several multi-million dollar portfolios and always did an exceptionally good job. Well ahead of the market indexes. I have several techniques that work. One is to bet on companies that deliver goods and services that I personally know well and recommend. The other is to see incipient businesses that have a high probability of growing significantly. That means I made money on Google, Amazon and Netflix. Lots.
I am poor on getting in and out of markets when related to business cycles. And fortunately I know it.
My problem has to do with giving others investment advice. I refuse to give investment advice to anyone including my own family, my kids, my spouses and paramours. The reason is simple: they may buy on my advice but I am not running their portfolio so I can’t tell them when to sell.
Even worse, if they lose money, I feel guilty and want to reimburse them. I’m serious, I take my own advice seriously. If my business advice is wrong I’ll do everything possible to help the business correct the error, free. In 50 years my business advice has never been wrong.
Thus I will not give investment advice.
It is a different story when it comes to personal money advice. I wrote a book called Simple Living Investments for Old Age. I always recommend reducing costs as a way to deal with money. Owning a home if your are good at household repairs. Developing work skills that will be useful in old age. Those work.