Sources of Sage Advice

The article by Jim Parker, "Seven Self-Deceptions," helps show why we seek out the bad advice promulgated by most of the money media (as I discussed in “Reasonably Critical”). We want to know the unknowable.

So, where do those who know that knowing the unknowable (the future, for instance) can’t be known (that was fun to write) turn for helpful financial and investing advice? 

I’m glad you asked. While they are few in numbers, the wisdom they impart is more valuable than most of what you read, see, or hear elsewhere.

Let’s start with television. Which TV shows share solid, academically reviewed investing information and advice? So far, I can’t find even one. I won’t get into what I dislike about even the best of the choices, but I am still hoping for a pleasant pecuniary programming phenomenon in the future. Suggestions are invited.

Next up, radio. Another medium littered with shoddy to outright villainous advice has few voices of reason. Ric Edelman's Truth About Money is probably the best of a bad bunch, but beware of his investment firm as his fees are outrageous! There are a few (very few) good audio and video podcasts (with links to iTunes feeds to help keep everything in one place):

Let’s start with my good friend, Paul Merriman. Paul truly cares about you and your money. His podcast reflects his commitment to real investing.

Another great source of academically based information is Mark Hebner’s video podcast, IFA.tv

The Money Guy show with Brian Preston shares many of our core beliefs when it comes to long-term diversified investing.

Some of the best research, information, and mutual funds come from Vanguard. Luckily, Vanguard has a couple of great podcasts, Plain Talk on Investing and Investment Commentary.

Of course, we hope you add to that list our programs: Talking Real Money, Investoradio, and the Don McDonald Show.

I have listened to hundreds of podcasts, and these are the only ones I was able to find with solid real investing advice. Again, if you know of others, please let us know.

There are some terrific finance writers at two of the major daily publications:

The New York Times features Ron Lieber, whose advice is primarily personal finance oriented, but occasionally takes a sensible investing turn.

Carl Richards, famous for his napkin sketches of financial concepts, also writes an occasional column for the Times and focuses on the psychology of money and investing.

At the pinnacle of financial journalism is the Wall Street Journal’s Jason Zweig. Zweig is not afraid to grab some of Wall Street’s most sacred cows by the horns and wrestle them to the ground. He is one of the few financial reporters who understands what investing is really about.

Better pieces can be found online through these semi-blogs:

CBS Moneywatch has two of the smartest “bloggers” in the business. Larry Swedroe is one of the giants of financial essays and he is joined in sensible investment commentary by Allan Roth.

Rick Ferri doles out sensible investing advice through his forbes.com column.

Finally, securities attorney and investment advisor, Dan Solin writes a regular stream of powerful pieces for both AOL’s Daily Finance and USNews.com.

Swedroe and Solin are also prolific authors of how-to-invest books, and they are some of the best works published on the subject. I highly recommend almost every book they have written, but a few of my favorites will soon be featured on my favorite reading page at talktodon.com. 

Two other investing authors well worth reading are William Bernstein and of course, Vanguard founder, John Bogle.

I am sure there are many great resources I have missed. If you have any suggestions that will help me expand this list, please let me know.