If you're an older person, you probably aren't familiar with Mark Ronson. Maybe Mick Ronson. He was David Bowie's guitarist and a 'Spider From Mars' on Ziggy Stardust. But Mark Ronson is a heavy hitter. A big influence on the music industry. What makes the Hottentot so hot? Seven Grammy Awards including record of the year, twice. The Amy Winehouse single "Rehab" and Bruno Mars with "Uptown Funk". He's also worked with Lady Gaga, Adele, and Miley Cyrus. His résumé is worth it's weight in gold with a net worth estimated to be $20 million and counting. He can say whatever he wants.
Others that speak their minds and seem to get away with it are the hedge fund managers. Masters of the Universe. They're constantly featured on the business networks. Bloomberg. CNBC. Fox Business. They fill a lot of airtime. I find this outrageous because they tend to underperform the market, yet charge exuberant fees. Once in awhile a guy like George Soros or John Paulson makes a mint on one big bet, but those are few and far between. Plus, after they make their killing, they end up losing most of it with subsequent investments. Confirmation bias up close and personal. Network anchors call them out on the carpet for poor performance, but they keep coming back. There's got to be major financial incentive for the money managers to take that kind of punishment. Buyer beware.
Money is always important, but once you hit retirement, it's really important. I watch CNBC sporadically throughout the day and monitor the balance of my stock portfolio to a fault. Financial Planners will tell you to check the bottom line once a quarter. Fat chance. There's too much riding on it in the high-stakes game of equity investing. With the advent of cellphones, it's difficult to remove yourself from the minute-to-minute gyrations of Wall Street. In the digital age, the real world has integrated with the virtual world, and we're all avatars now. Ghosts in the machine. This is especially true in the financial industry where over 50% of the population have a vested interest. Pensions, IRA's, 401-K's and individual investments.
Television commercials from discount brokers bombard us with incentives to sign up for their services. E-Trade. Charles Schwab. Fidelity. Interactive Brokers. TD Ameritrade. They all do it. I've had a discount brokerage account for three decades now. One of the few smart things I ever did. No regrets. There was no Internet when I started. You executed your trades via the keypad on the telephone. You had to think about it. Now it's a click of the mouse or press a button when you're mobile. This can be dangerous. The thirty second spots touting derivative trading perplex me. Commercials from the discount firms seem to advertise the same theme - trade options, it's child's play. This couldn't be further from the truth with 85% of options contracts becoming worthless. But usually in the ads you have some smug corporate denizen bragging about how it's a piece of cake and how he made a fortune. No fuss. No muss. It's not that easy. Although the discount brokerage companies are on the up-and-up, you still have to be careful. Don't let them sweet-talk you.
But getting back to Mark Ronson, he eventually walked back the sapiosexual statement. Said it was taken out of context after the negative spin cycle in the press and on social media. What else could he do? If you watched the interview, it was no big deal, and he didn't go hog wild with the sapiosexual comment. Just said he could identify with it. He won the Oscar this year for Best Original Song for "Shallow," in the latest remake of A Star Is Born. He's got clout, is probably left leaning, and trolls still crucified him. What the world needs now is a new Frank Sinatra.