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No. of Recommendations: 15
We can defend the young writers not practicing sound financial journalism or usher them in to the real world.

You aren't going to usher anyone into the "real world" by calling people who are perhaps young and a bit naive that they are "pathetic" rather than being constructive.

In my opinion, almost anyone under 30 is naive when it comes to investing because they haven't seen enough market cycles personally. It is one thing to read about markets and another to live through it. How does it feel to see your net worth drop by nearly 50% peak to trough? I know how that feels. I know how to react to it. I know I'll be able to handle it again because I've been there before. I doubt anyone under 30 had enough capital in the 2008-09 debacle to know how it really feels even if their small portfolio fell by half. Most can't handle it even if they talk the talk. Most people will give up and sell at the bottom.

If it wasn't for Lowenstein's biography of Buffett, Buffett's annual letters, and Ben Graham's books, my net worth would have been destroyed in the early 2000s. I probably would have crawled into a defensive posture perhaps investing in real estate with the other hordes who decided that stocks were a losers game just in time to be killed in the real estate meltdown.

It was basically luck that led me to value investing and I had to unlearn all the textbook efficient market dogma. My main investing upper division finance textbook, which I still have in my bookshelf, has one reference in the index to "Buffet, Warren" (yes, misspelled) leading to a dismissive paragraph about Buffett, Peter Lynch, Templeton, and Neff having superior performance records "hard to reconcile" with absolutely efficient markets. But fear not because "Nobel prize winner Paul Samuelson reviews this investment hall of fame but points out that the records of the vast majority of professional money managers offer convincing evidence that there are no easy strategies to guarantee success in the securities market."

So my view is that any young person subjected to the efficient market dogma and trying to break free of it deserves encouragement even if the attempt isn't perfect, not scorn and sarcasm. But whatever floats your boat in terms of feeling superior, "dealraker", and whatever generates recs here seems to be what counts.
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