Dangerous TikTok Financial Advice Is Back
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- čas přidán 4. 03. 2024
- Here is my response to financial advice on TikTok - Enjoy! Add me on Instagram and Snapchat: GPStephan | PROMOTIONAL OFFER: Get Free Fractional Shares when you sign up and make a deposit using my paid affiliate link for WeBull: a.webull.com/i/GrahamStephan
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That first clip is catastrophically HORRIBLE advice!🤣
satire....
@@user-dg7lh2sq6tnot satire when some young impressionable person would say oh that sounds like a really smart idea!🤡
@@user-dg7lh2sq6tbut many people are dumb enough to believe it and follow through with it.
It’s actually genius and you totally missed it. You probably have a net worth under $2M. Why poor people speak out of line is beyond me! We’re laughing at you.
@@user-dn5hz3nl9xalright user 456789. Just as Dave Ramsey- appealing to the average individual is for the greater good. Do the math and simmer down
The first clip is the perfect example of "Don't got problems? Go and created them"
😂😢😮😅
I borrowed 100K from a mob boss, best motivation ever.
Ll
Reminds me of when you and Andrei Jikh were promoting BlockFi , I can only imagine how many people you hurt.
Just for clarity, they also said to get your Bitcoin and them pull it out into offline storage. I remember Andrei in particular (not saying Graham didn't also, just that I remember it from Andrei) before it crashed telling people it was looking bad and they should pull everything out...
I had some minor bitcoin in my BlockFi wallet... It was frozen during the problems.
Eventually they opened up the wallets so I could pull it back out, which I did... (And funnily enough, it's now worth more.) Blockfi in particular was very strong in saying that coins in people's Blockfi wallets were those people's coins, not Blockfis, and they followed thru on that.)
Also, if someone suggests I do something and reminds me that it is risky (which they did), and I do it and lose money... (And they didn't lie about things trying to convince me to invest...) That would be on me. I take responsibility for my own actions...
I got lucky and didn't lose my couple of hundred bucks. But had I lost it, it still would have been on me. (And FTX and possibly Blockfi if they knowingly lied (which FTX definitely did.), but still partially on me because I am aware that Crypto companies can be what FTX was.)
i would like to see him respond to this
So many people need someone else to blame for things nowadays... Interesting...
I know, I'm old and it's a "get off my lawn" moment. ;-)
Neither of those two are financial planners or accountants or financial experts.
They are guys on CZcams who talk about finances.
In my opinion, if someone takes their advice and it goes bad, that is on the person taking their advice, not on them.
Now, if my financial advisor, who is a professional that I go to for financial advice, advised me to invest in/thru BlockFi, then it would be different.
And if one actually listens to what they have said over and over in their vids, they do talk about risk and only investing in Crypto with what you can afford to lose...
But people still do that (Heck, I threw in $200 myself) and when it goes bad, blame others.
As a side note, my $200 (never invest in Crypto more than what you are willing to lose, and I am cheap) that was locked up in FTX when the trouble hit, I figured was a total loss. I didn't blame them...
And later, I was able to withdraw it and not it's worth like $800...
Crypto is funny that way... And it is basically gambling, not investing...
Note: I am not a financial advisor and no one should ever listen to me about anything, especially money! ;-) ;-)
I'm out of the loop, what happened with BlockFi?
@@Phoenix11720 They were caught up in the FTX problems as FTX had "given" them a lot of funding. As a result, when it turns out FTX didn't have the money they said, BlockFi had major issues too.
BlockFi at the time locked all access to any crypto. Bankruptcy was declared. BlockFi kept maintaining to the bankruptcy courts that whatever coins were in one of their customers wallets didn't belong to BlockFi but to the customers and should be released to the customers. The courts eventually agreed (it took a long time).
That isn't all of it tho, as some people had money/coins actively in BlockFi accounts (not in the customers wallets) and that is still in talks about how much of that will be able to be returned. (I didn't ever have any money in those accounts.)
I saw something recently that the courts said what is remaining of FTX did have to pay a large amount back to BlockFi, so hopefully that will help some of those accounts as well... One of the good things about the recent resurgence of Bitcoin is that it might mean people can get back more of their money, at least as it was valued when the FTX crash hit.
And, I'm sure there are WAY better descriptions of what happened and is still happening. ;-) Just my ramblings/thoughts on it...
It’s like all this CZcams clickbait finance advice out there too
i did the credit card debit motivation thing before. it did not go well LMAO
😂😢😮😅
Graham, he's saying it takes longer to go from 0 to 100k than it does to go from 100k to 1m....and that's true.
That was a Charlie munger quote.
well that's the point that tt guy missed
Charlie Munger also said not to waste your time on index funds. Choose good stocks instead.
@@RichardRemerWarren Buffett argued the opposite. Munger always came off as a bit up his own arse
"It's BACK?"..... It never left!
I appreciate your review of tik tok financial advice. There is a lot of bad advice out there that people unfortunately get stuck into.
I don’t take advice from TikTok. It should be more entertaining to us.
Yeah, shorts /tiktoks are super addicting lol
Or just don't use it?
I think the second advice is about what I heard Charlie Munger once said. It's harder to reach 100k, then from 100k to a million. The time it compounds and grows is going to be shorter. So go all out and make your first 100k, because that is the difficult part.
you're an inspiration Graham. hopefully moving my family to Henderson, NV in a few months!
Just trick the bank into thinking your child's finger-painting is actually a Basquiat
It's dangerous to take financial advices from internet. Most of those guys don't care about being right or wrong, they just care about the views.
Unless you are a certified financial advisor with years of experience working with a broad spectrum of clients, I’m not giving you not one second of my day. It’s sad that people are getting advice from Tik tok grifters who are just seeking engagement.
I've never gotten good advice from a certified financial advisor. They give mediocre advice.
Ok Boomer
@@triswilsfulwell when you’re broke they’re always going to give you the same advice
Not a financial advisor, just an accountant with nearly a decade of experience in investing. Don't take my advice. But the fact I can confidently tell you to not take my advice, is the confidence you should have telling people pushing a "get rich quick" scheme the same thing
Honestly sometimes I think people have to learn the hard way, but also I think with investing being gamified, so many people are gambling away their money and not actually Investing in the stock market
Great knowledge! thanks
Man I got excited when I saw my Lamborghini video in the thumbnail! 😂 Been watching your channel for a long time Graham 🙌
Thanks for featuring my red flag/green flag series ✊
Thanks for making them!!
best advice is: if someone isn't rich already then don't listen to their financial advice. too many poors on social media giving advice
So listen to people who got rich from making videos? Just as stupid
"Too many poors"
Gotta define "rich". There are lots of people who think Trump is rich, but there's a pretty good chance his actual net worth is negative.
These TikTok’s are getting more and more wild 🤨
I’ve been spending some time trying to understand what makes a good story, and our interest in most topics comes down to levels of absurdity. So many of these financial TikTok’s get so viral because a lot of creators are really skilled at taking a mundane topic like finance and twisting it to make it seem extreme or exciting.
Seems like the realest channel. Keep it up.
It's all crazy advice. I usually scroll past those. Except you, Graham ❤
Great video
Wasn't you give advice on FTX when ppl lost $$$. You should not be talking about trash advice.
Exactly!!!
Hard to predict something like that especially in a useless market like crypto if you buy crypto you deserve to lose money let's be honest
😂😢😅😊
He’s famous for uneducated crap advice. He’s a fake guru conman
Lots of finance experts were promoting FTX, nobody could have known what was going to happen. Blame SBF not Graham.
Where is Dave Ramsey and his team when you need them? 😂
That first piece of advice is insane 😲
Painting “infinite money hack” was funny. I do work at a bank and would like to tell you that banks aren’t pawn shops
From the king of bad financial advice, comes bad tik tok advice.
On that first clip, you just look at the reverse. Ok so he's saying guys that had bad childhoods are more successful... ok? Well how about the opposite, how many bad childhoods didn't make someone successful, or how many successful people had good childhoods? I would argue a lot more
Yeah. I mean. On that first one, I definitely agree with you.
I recovered from ptsd. I have a complex path. I think where he's coming from is that many people in that mode don't have a lot of energy for everyday life. But they sure can find it in crisis mode. So you're sort of hacking yourself knowing how you'll respond. It's not a healthy way of dealing with the situation. The better solution is to go get therapy. Work on yourself first. Then come back to all of this when you're healthy. But someone who's struggling like that. They don't know how to handle something that is not an emergency.
Fake sales with paintings, isn't that common practice in that industry
Graham is fantastic - love your stuff!
Glad you enjoy it!
Thank u for all the knowledge you are sharing …
4:54 he was telling us to ambush a cash transport truck
Graham is looking Swole!
Hey brother , I thought I’d shoot my shot . I’ve followed you for a while and just wanted your best advice for editing on CZcams ( possibly what you use , how you started , what’d you reccomend if you had to start all over with todays technology ) . Thanks again for all the advice and love the transparency 💯
OMG Graham your commentary cracked me up 😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂
Generate debt as motivation 😂😂😂😂
5:25 that dude is one of the worst yappologists on the internet right now
Graham has been working out. The gains have been noted
Definetly noticed.
YESS!!! I've cut out nearly all processed foods and taken my diet super seriously. It's made a difference!
Good video.
nice video!
Second!
If you put yourself in such a bad situation in the first place, you're not the kind of person who's going to get yourself out of the hole lol
5:12 Essentially follow the money. Similar to fish where the fish are swimming.
Please do a video on those relentless IUL tiktoks.
I agree with that last point you made about the art. The dude was describing how to defraud a bank, seriously? I just can’t believe that people put the dumbest of content on the internet for the whole world to see. ”Even fools are thought wise if they keep silent, and discerning if they hold their tongues.“
Proverbs 17:28 NIV
These people remove all doubt about their lack of intelligence.
The one with the river is like watch where the money moves I guess. This assumes you know people with that info.
My dad was conservative financially, never got rich, but we never lacked. I'm conservative financially, not rich either, but I really doubt my family will lack either. I'm 75 have $260K+ savings invested conservatively, retired, and will probably pass the entire $260K+ to my heirs. As to what that's going to be worth is up to the government.
Watching the kings of bad youtube financial advice and fiscal scams react to bad TikTok advice, full circle moments
Lost it at "Bold and Brash" 😂😂😂
Be sure to do your research on anyone that says they are a fiduciary. Currently there is no governing body or standard that has to be met for a “fiduciary“.
True. My mom is one for my brother who is disabled through the VA. There is really no bar or checks except for some once a year paperwork.
@@samanthatheminimalist do you mean that there is a law? Or do you mean that it fiduciary does not act in the client best interest the only recourse is to sue?
@@samanthatheminimalist This would make a plaintiff whole if they can prove that the financial consultant did not act in the client’s best interest. However, this could be difficult to prove depending on the circumstances. It would be better if there were a standard to meet or a governing body to determine what a fiduciary actually is. Currently, this is not the case.
This is why you don’t listen to your friends when it comes to money! Especially in your twenties 😢
Appreciate the video. It makes me think of the younger generation, as young as teens (my work puts me in contact with teens), paying attention to inappropriate, half-truths, or "dangerous" financial opinions. Can you and the rest of the "legit" financial content creators put up more digestible content out there to refute or offset the bad content? 🙏
Cant wait for someone to review graham's FTX advice.
When the grocery store clerk is giving you day trading advice. Its time to sell.
Graham! Long time watcher first time commenting! What’s your thoughts on IUL’s? Keep seeing a company on Tik Tok advertising that.
You can’t compare gold to equities. It should be compared to the currency.
"Current sounds like currency so I'll use them interchangeably and it'll sound profound." 🤣
5:12 that guy looks like he's trying not to laugh 😂
Bank is like riverbank... How deep. You know, like a lake. I think he might have ingested some Sudafed. Or I need some.
Graham watch game have been pretty nice in the last few videos.
You do realize the clip at 6:00 is AI dubbed on a seperate conversation with Shkreli right?
If you want a ring that's worth it's value, get it at a pawn shop - it's already taking more of it's depreciation.
Just waiting for 12:15 - 12:21 to become a new green screen meme format 😂
"You can do it, but it's risky." Is he advising people become abusive alcoholics for the sake of their kids? 😆🤦♂
Let’s kick it next time I’m in Vegas! 🎉😂
Hi Graham! 🤗
First comment!
I might be reaching, but I think what the guy using the river metaphor is talking about the when there's a gold rush the people getting rich are selling shovels. if you know understand the flow of business/money in a given system it's easier to position yourself in the best place to make money.
Similarly, if you want to get ahead of inflation, put yourself closer to the money printers. Beware though, periods of government austerity can be detrimental to a lifestyle built too close to the horse's trough.
I’m pretty sure Alex is saying it’s easier to get to 1M from 100k than 0 to 100k 😅
Hi Graham, I want would like your take on this. To me the goal is to make the money you need for your lifestyle, including investing what is necessary for retirement, in the less time as possible. That translates into getting new client for my business only when I want or need an upgrade in my lifestyle. It allows me to have a lot of free time to enjoy life. Should I recommend this perspective to others or is this bad advice?
The guy who couldn't understand that "faster" does not mean "before" 🤦♂️ Smh, some people can't even understand Standard American English. It is faster and easier to make $1M than $100k. That doesn't mean you'll make $1M BEFORE you make $100k. Bruh. NO ONE said anything about before/after.
Before watching I’m guessing these will be very good 😂
Based on previous videos
That one guy sounds like Kamala Harrison 🤣
All true statements
Great video, but wouldn’t praise Martin Shkreli for “thinking big” after he spent years in prison for securities fraud
what watch are you wearing?
What credit cards does graham use?
Never say you agree with Martin. It's just a bad look my guy.
I don't know why people trust gold, Gold or anything for that matter only has value so long as the masses say it does. if all of a sudden all the gold in the world is allocated to electronics manufacturing, gold is virtually worthless. Just a thought.
Now I remember why I stopped watching these videos. Soon as it's a friend of his, knucklehead will make any excuse in the world why they are right instead of just on the content of the video.
Still liking
You are the dangerous advice
Remember him promoting FTX?
This dude doesn’t know who Jordan Maxwell is
The first clip is a fucking joke lmfao like it’s supposed to be a haha joke 😂😂😂😂
How can I beat Warren Buffet? Having less than 800 billion to deploy.
He’s not a billionaire. We need one of those background channels to check that guy out. And he certainly won’t be a trillionaire.
WE ARE RURRUUREVIEWING!!
Weird being this early to a video
:)
The water metafore is correct just really vague it is like an horoscope. True but useless in a sense
There's 1 true money glitch imo. It's professionals; in any field, who turn their knowledge, or daily life into internet currency.
Warren Buffett has a much larger money pool to allocate
I think best employees are those with lots of debt
Ironic, coming from a dude that makes financial ticktocks
"Banks control the flow of the currency. I just have to go where the water is going to flow." So is he just going to go stand around at the bank and hope the money just starts falling all over him? Does he think that banks work like the tornado money machines?
I know people who turned a hundred grand into a million. 😊 They’re dispensary owners who fleeced before the regulations could catch up.
Hey Graham! Could you please conduct some research on BNB's involvement in AirBNB and vacation rental properties? I'm contemplating whether it's worth making a small initial financial investment to enter this business. It appears to be quite turnkey; however, I'm curious about any potential complexities or challenges I might be missing. Your input would be invaluable.
My brain hurts...
The flow of the cash the cash of the flow = the poison for Kuzco Kuzcos poison
Are they pumping ftx again?
What about FTX advice and Yotta?
9:30 is this not satire? 😂