"Not Financial Advice"

Handling requests for advice from friends and family

As an active investor passionate about researching companies and observing markets I think it’s not arrogant to suggest that I know more about investing than the ‘average’ person. At this point, I have dedicated years of my life to educating myself further through experience, literature, and the act of simply reading thousands of transcripts and filings.

Note I emphasise the term ‘average’ person. The average person has never read a 10-Q in their life, doesn’t appreciate the nuance of a footnote, doesn’t know what a discount or risk-free rate is, and probably has a limited understanding of what it means to own shares in a company. So in this context, it’s a pretty short hurdle. As it relates to my knowledge relative to the average investor— I am not making any such claim.

You like stocks, what ones should I buy?

For anyone in a similar boat, and I am assuming this relates to most of my readership, you have likely experienced, perhaps on several occasions, a friend or family member ask…