I have nothing against mentors and gurus, as long as they are upfront and ethical, and consider the repercussions on a market, at a later time, of a significant audience parroting their actions.
Even though Steve McKnight didn't invent +CF strategy, he certainly introduced it to half of Australia. And I think that was a positive thing. Before then, Australia thought PI meant negative gearing 1 or at most 2 properties.
If I have an issue with Steve, it is that I can't reconcile how such an obviously smart guy resorts to using 1950s marketing techniques. It wore thin on me a long time ago, and yet, I still try to read he has to write. It just frustrates me that he wastes my time with the hype. A guy like him could become the Kiyosaki of Australia (there's certainly a vacuum sucking the right guy there), and it would be nice to have some home grown gurus. And I just wish he and any other aspirational type, would aim a little higher. As an ex ad man, I can literally smell the masses looking for some honest direction on how to self fund retirement and make smarter investment decisions. The only thing missing, the most important thing missing is trust.... Steve Navra could do it. and seems to be moving that way, though not in a populist manner.
And maybe the Australian Kiyosaki won't be one person. Maybe the task is too big for one in an investment world as complicated as this.....Too much knowledge constantly changing to be the guru......Maybe a co-operative, a society, with an educational bent, is the way forwards. Maybe from this forum, sometime in the future, a group of successful retirees with a lot of time on their hands will become 'the most trusted and incorruptible guru'. After all, a democratic cooperative would be a lot less corruptible than one man or woman.
And isn't that what we all find compelling about somersoft, that it isn't one man's word. We take solace in that many life experiences are expressed here. Hence, in statistical parlance, the law of large numbers reveals truth.
When the computer age took off, everyone was excited because everyone felt part of it. There was an open sharing, and everyone could sense the power of computing potential. Dan Bricklin and Bob Frankston, the guys who invented spreadsheets, never got a patent out. And yet they changed the world forever. especially accounting... Their consciousness was more communal. ANd that's the way I feel about investment forums. There is a common good, a potential, that can come from the collective wisdom of sharing investment knowledge. .. The whole is greater than teh sum of the parts.
If more of Australia can make smarter decisions in investment and even life itself, we are all going to benefit. In a sense, sharing wisdom via forums, can be a true trickle down effect. But speeded up more than ever before. That's the forum effect. Forums also have a way of exposing the collective unconscious and conscious. And that is their true power.
In short, the thing I feel Australia needs most now, is a return to a higher standard of ethics and community. Steve McKnight could go there. A collective of Somersofter's could go there. The Somers went there, and have had to pass the batten. Maybe the batten needs to be passed to a group, rather than one.
The insurance industry arose from a community's need to look after each other. In a large society, we are all dependent. Maybe some of that communal spirit, the glue that holds the fabric of society together, that is so sadly lacking in the 3D world, will build in cyberspace forums, and eventually spill over into 3D.
Here's to more intelligence and more trust and more respect for others....and reaping the rewards of that.....
Back to that bottle of scotch........