Only three weeks ago, Felix wrote “I’m a big fan of Suze Orman.” Look at what he’s writing now: a post that’s headed “Suze Orman’s bad investment newsletter”!
“Suze Orman’s bad investment newsletter!” Ouch! It’s a pretty long post, with a fair amount of he said/she said, but the gist is this:
“I’m disappointed in Orman for telling her readers that they can beat the market. I’m disappointed in Orman for implying to readers that if they spend $63 per year on her newsletter, then they are likely to beat the market. And I’m extremely disappointed in Orman for getting into bed with Grimaldi in particular, who charges a management fee of 1.65% for investing in his Sector Rotation Fund, despite the fact that all he’s doing is buying ETFs.
And of course all of this rubs off onto Orman’s other products, too: the tar of the Money Navigator newsletter is going to wind up getting brushed onto the Approved Card, whether it deserves it or not. Which is yet another reason why we need a new personal-finance guru— someone who can replace Orman and judge her products impartially.”
I’m afraid I never took Suze very seriously—the sight of a chick in a pantsuit holding a microphone roaming around an empty stage and telling folks how to take charge of their lives is always a turnoff for me. But it’s nice to get confirmation from someone who knows what an ETF is.
Afterwords
Felix is off in Davos now, where, one can hope, he won’t be running into Suze. His reports make informative but depressing reading. In case you haven’t heard, Europe is about to fall apart, and it isn’t all the fault of those lazy, lying Greeks. George Soros says the same at the New York Review of Books.
