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Finance discussion at parties.

Posted: Fri Feb 10, 2012 5:49 pm
by reggiesimpson
Do you openly discuss Finance at parties? If so what is your feedback?

Re: Finance discussion at parties.

Posted: Fri Feb 10, 2012 6:02 pm
by tludwig23
Yes, but only if someone else brings it up. Usually it is someone who wants to tell me about their brilliant stock picks.

Re: Finance discussion at parties.

Posted: Fri Feb 10, 2012 6:07 pm
by dbr
Yep, and I lies low and sez nuttin', then I lies low again and sez nuttin' again.

Re: Finance discussion at parties.

Posted: Fri Feb 10, 2012 6:08 pm
by reggiesimpson
The reason i bring this up ( sorry should have stated) is that at a party a few months ago (pre-bogleheads) the topics of chat were vacations, kids and food. But there was one guy who discussed finance in an informative way and i noted that when he spoke that not only did all conversation stop but so did all eating and drinking. As so many folks here are quite knowledgeable i was wondering the reactions they noted if the subject came up?

Re: Finance discussion at parties.

Posted: Fri Feb 10, 2012 6:11 pm
by reggiesimpson
dbr.....i suspect if you discussed finance at a party the host wouldnt invite you back. Please see my previous post for that explanation. No insult is intended believe me.

Re: Finance discussion at parties.

Posted: Fri Feb 10, 2012 6:15 pm
by tludwig23
reggiesimpson wrote:...But there was one guy who discussed finance in an informative way and i noted that when he spoke that not only did all conversation stop but so did all eating and drinking.
Was this man named E. F. Hutton by any chance?!? I've been wondering where he's been!

Re: Finance discussion at parties.

Posted: Fri Feb 10, 2012 6:16 pm
by reggiesimpson
E.F. Hutton!.......i completely forgot that ad. But it was certainly appropriate for that evening thats for sure. Thanks.

Re: Finance discussion at parties.

Posted: Fri Feb 10, 2012 6:19 pm
by sscritic
You should go to parties with Finance professors and accountants. It's hard to talk about anything else. :)

Re: Finance discussion at parties.

Posted: Fri Feb 10, 2012 6:23 pm
by reggiesimpson
sscritic.........your right. I was at a party populated by accountants many years ago..............boring as hell. I should have spiked their drinks!

Re: Finance discussion at parties.

Posted: Fri Feb 10, 2012 6:28 pm
by newbie001
reggiesimpson wrote:sscritic.........your right. I was at a party populated by accountants many years ago..............boring as hell. I should have spiked their drinks!
You know the old joke: how can you tell if an accountant has personality? He stares at YOUR shoes when he is talking.

OP, I love to discuss finance anywhere, although I've learned to bite my tongue on the general superiority of passive investing. Too many geniuses out there with supposed inside info or stock-picking methods.

Re: Finance discussion at parties.

Posted: Fri Feb 10, 2012 6:29 pm
by hsv_climber
What is their to discuss? Hmmm.... I invest only in low cost Vanguard stock & bond mutual funds / ETFs. The End.
And others have the luxury to talk about strikes, options, hedges, etc. Sometimes I envy them :wink:

Re: Finance discussion at parties.

Posted: Fri Feb 10, 2012 6:30 pm
by Sidney
reggiesimpson wrote:Do you openly discuss Finance at parties? If so what is your feedback?
Yes, but not about investing.

Re: Finance discussion at parties.

Posted: Fri Feb 10, 2012 6:30 pm
by livesoft
I have been to get-togethers where the financial news is discussed, but no one ever ever ever talks about their personal investments in public at a party.
Do people really talk about their investments in a serious way at a get-together?

Re: Finance discussion at parties.

Posted: Fri Feb 10, 2012 6:31 pm
by DSInvestor
Here's a scene from Trading Places when someone asks Valentine (Eddie Murphy) an investing question.
http://www.youtube.com/watch?v=9B3TN2rEckQ

Are Bogleheads reunions "parties"?

Posted: Fri Feb 10, 2012 6:33 pm
by VictoriaF
Do Bogleheads reunions qualify as parties?

Victoria

Re: Finance discussion at parties.

Posted: Fri Feb 10, 2012 6:39 pm
by sscritic
hsv_climber wrote:What is their to discuss? Hmmm.... I invest only in low cost Vanguard stock & bond mutual funds / ETFs. The End.
No Fama-French, no small value, no dice and slice, no efficient frontier, no discussion of how Warren Buffet doesn't have a clue, no backdoor Roth, no DRCs (oh, that's right, you had better use the words Delayed Retirement Credits)? Before your next party, just review the last 25 threads on bogleheads.org; that will give you plenty to talk about.

In my age group everyone wants to talk about Social Security and Medicare and claiming strategies. It can go on for hours. And don't tell me that talking about Social Security is boring.

I presume we are all here because we like this stuff. I can't imagine not being able to talk about your hobby if you are truly enthusiastic about it.

My dream: party with livesoft and have him talk about all his tricks of the trade.

Re: Finance discussion at parties.

Posted: Fri Feb 10, 2012 6:48 pm
by Pennstateclj1
reggiesimpson wrote:Do you openly discuss Finance at parties? If so what is your feedback?
Yes, then my wife makes me leave.

Re: Finance discussion at parties.

Posted: Fri Feb 10, 2012 6:50 pm
by hsv_climber
sscritic wrote:
hsv_climber wrote:What is their to discuss? Hmmm.... I invest only in low cost Vanguard stock & bond mutual funds / ETFs. The End.
No Fama-French, no small value, no dice and slice, no efficient frontier, no discussion of how Warren Buffet doesn't have a clue, no backdoor Roth, no DRCs (oh, that's right, you had better use the words Delayed Retirement Credits)? Before your next party, just review the last 25 threads on bogleheads.org; that will give you plenty to talk about.
In my age group everyone wants to talk about Social Security and Medicare and claiming strategies. It can go on for hours. And don't tell me that talking about Social Security is boring.
I presume we are all here because we like this stuff. I can't imagine not being able to talk about your hobby if you are truly enthusiastic about it.
My dream: party with livesoft and have him talk about all his tricks of the trade.
Honestly, I've never met Boglehead-types in the real life (I've never been to Boglehead reunions).

From my experience, people are split into 2 categories:
1. those who actively trade stocks.
2. those who know nothing, don't want to learn anything and randomly pick options on their 401K plan. They keep their money @ Edward Jones, brother's broker, sometimes Vanguard/Fidelity Target (or Total market) funds, etc.

So, I've never had a luck to enjoy a good conversation about investments at the parties that I've been to.
sscritic wrote:My dream: party with livesoft and have him talk about all his tricks of the trade.
Here is how you can do - start a thread with a message: "Hypothetically, if you are livesoft and you want to share the tricks of the trade with the rest of us. How would you do that?".

Re: Finance discussion at parties.

Posted: Fri Feb 10, 2012 6:51 pm
by reggiesimpson
Interesting..........yes their seems to be a general reticence when it comes to discussing ones personal finance but if they can pick up clues from the knowledgeable then folks are in rapt attention.

Re: Finance discussion at parties.

Posted: Fri Feb 10, 2012 6:53 pm
by hsv_climber
reggiesimpson wrote:Interesting..........yes their seems to be a general reticence when it comes to discussing ones personal finance but if they can pick up clues from the knowledgeable then folks are in rapt attention.
Bogleheads are not considered "knowledgeable". "Knowledgeable" are considered the people who have happened to buy APPL, GOOGLE, whatever and make millions (or whatever they claim) on it.

Re: Finance discussion at parties.

Posted: Fri Feb 10, 2012 7:10 pm
by sschullo
You must attend an American Association of Individual Investors (AAII) meeting! Warning! You might get screamed at upon hearing that you have a diversified low cost portfolio with comments such as "I won't make any money in a diversified portfolio!"
I don't talk about it at parties unless somebody else has an interest.

Re: Finance discussion at parties.

Posted: Fri Feb 10, 2012 7:13 pm
by sschullo
hsv_climber wrote:
reggiesimpson wrote:Interesting..........yes their seems to be a general reticence when it comes to discussing ones personal finance but if they can pick up clues from the knowledgeable then folks are in rapt attention.
Bogleheads are not considered "knowledgeable". "Knowledgeable" are considered the people who have happened to buy APPL, GOOGLE, whatever and make millions (or whatever they claim) on it.
So true. I am so fortunate to be unknowledgeable even though one or two posters think thats "anti intellectual."

Re: Finance discussion at parties.

Posted: Fri Feb 10, 2012 7:27 pm
by livesoft
sscritic wrote:My dream: party with livesoft and have him talk about all his tricks of the trade.
I may be coming to a city near you. PM me and I will take you to dinner.

Re: Finance discussion at parties.

Posted: Fri Feb 10, 2012 7:51 pm
by bob90245
reggiesimpson wrote:Do you openly discuss Finance at parties? If so what is your feedback?
No. I keep my mouth shut. I may nod my head or something just to show I'm listening. Then I'll probably say, "Have you tried the dip? It's really good!"

Re: Finance discussion at parties.

Posted: Fri Feb 10, 2012 8:18 pm
by Dadarkar
During dot-com bubble, I constantly heard people bragging about their gains (in 6 figures) in stocks like JDS Uniphase, Sun, Qualcom etc. After the bubble burst, no one talked about how much money they lost. These days I only hear that "market conditions are bad and this year is written off". I just listen and chuckle! :D

Re: Finance discussion at parties.

Posted: Fri Feb 10, 2012 8:20 pm
by Grt2bOutdoors
Once, at the first meeting of my soon to be wife's friends, someone asked what my occupation was. I explained it in laymans terms when someone chimed in that their husband was "big" in the market. I asked about their strategy which led to a 10 minute diatribe on watching Cramer and those 4 or 5 that sit around a table and talk about their "hot trading techniques" (the name escapes me). After that, they asked what my strategy was and I simply replied "mutual funds".
After that time, I try not to talk about it, unless I know the person "well".

Re: Finance discussion at parties.

Posted: Fri Feb 10, 2012 8:39 pm
by CordMcNally
DIscussing finance at parties can be akin to talking politics. It can get heated at times and uncomfortable. Talking business or an overall discussion on the markets can be ok but once you delve into personal opinions, stock picks, etc., it can become a sticky situation fast.

Re: Finance discussion at parties.

Posted: Fri Feb 10, 2012 8:44 pm
by Whiggish Boffin
When you own index funds, someone brags about his stock picks, and you nod and say "Yeah, I've got some of that..."

Re: Finance discussion at parties.

Posted: Fri Feb 10, 2012 9:02 pm
by 2b2
Whiggish Boffin wrote:When you own index funds, someone brags about his stock picks, and you nod and say "Yeah, I've got some of that..."
...and if you own Vanguard Total Stock Market Index Fund exclusively for your US equity exposure, you can truthfully say :
"AAPL is my second largest US stock holding".
Not bad for being "unknowledgeable" !
:wink:

2b2

Re: Finance discussion at parties.

Posted: Fri Feb 10, 2012 9:11 pm
by boglesmymind
I would say discussing finances at a party would be just as taboo as telling people about that UFO you saw while on vacation in Cancun.

Re: Finance discussion at parties.

Posted: Fri Feb 10, 2012 11:44 pm
by reggiesimpson
Interestingly i just had dinner with my neighbor. A guy that discusses his personal finances very easily (at parties and elsewhere). I told him about this great site (Bogleheads) and that my focus is shifting to index investing rather than the insane day trading we used to do together on occasion. He said he just handed his entire portfolio to his cousin at Morgan Stanley who guarantees him profits at very low costs. I suspect our dinners together are on the wane.

Re: Finance discussion at parties.

Posted: Sat Feb 11, 2012 12:20 am
by cheese_breath
I'll listen for a minute or two to judge if the guy knows what he's talking about. If he does I'll keep my mouth shut and listen some more. Possibly I might learn something. If it seems he's just blowing his own horn I'll look for the first excuse to move on to someone else.

Re: Finance discussion at parties.

Posted: Sat Feb 11, 2012 12:23 am
by porcupine
GRT2BOUTDOORS wrote:Once, at the first meeting of my soon to be wife's friends, someone asked what my occupation was. I explained it in laymans terms when someone chimed in that their husband was "big" in the market. I asked about their strategy which led to a 10 minute diatribe on watching Cramer and those 4 or 5 that sit around a table and talk about their "hot trading techniques" (the name escapes me). After that, they asked what my strategy was and I simply replied "mutual funds".
After that time, I try not to talk about it, unless I know the person "well".
I am sorry, but did you mean to say 'monologue' when you wrote 'diatribe?' I ask because diatribe - to me at least - carries a negative connotation, and the context you gave appears to indicate that the person was praising Cramer to high heaven. Or did I misunderstand your entire post?

- Porcupine

Re: Finance discussion at parties.

Posted: Sat Feb 11, 2012 12:33 am
by livesoft
It is funny, but I had dinner with friends several times this past week and American politics was discussed at every single dinner in depth, so I do not think politics is akin to discussing our personal methods of investing. Politics seems to only be taboo on the forum and not elsewhere.

Re: Finance discussion at parties.

Posted: Sat Feb 11, 2012 1:18 am
by FrugalInvestor
If the subject of finances comes up I mention that I'm a Boglehead and give a brief synopsis of the Boglehead philosophy. That usually ends the discussion. :lol:

Re: Finance discussion at parties.

Posted: Sat Feb 11, 2012 10:15 am
by Harold
There are several different types of "finance discussions" at parties, among them:

- Someone pontificates on a rigid, incorrect, and vacuous financial viewpoint, such as a diatribe on why "buy and hold" is dead. Response is to politely smile, and move on to a more interesting conversation partner at first opportunity.

- Someone pontificates on a rigid, incorrect, and vacuous political viewpoint, such as a diatribe against the federal reserve. Response is to politely smile, and move on to a more interesting conversation partner at first opportunity.

- Someone without expertise, but with honest introspection and candor wonders aloud about a financial concept. Similar people, with and without expertise, respond patiently imparting any knowledge they have and eagerly awaiting any new knowledge or insight they can gain through the conversation (either about the concept or the behavior surrounding the concept).

- Someone with expertise brings up a topic with honest introspection and candor, and patiently listens to the reactions of other members of the conversation, politely adding points as needed.

- A topic is broached to which one or more members of the group respond solely from the framework of their political leanings. Response is to exit immediately -- they probably won't even notice.

- A topic that people are accustomed to viewing through a political prism is viewed on its own merits by a thoughtful group speaking and responding without a political framework. Might be the most fascinating part of the evening.

There are many possibilities. Probably depends as much on you and the people you choose to spend time with as anything else.

Re: Finance discussion at parties.

Posted: Sat Feb 11, 2012 10:45 am
by HueyLD
Harold,

Your reply is so good that I am going to steal your ideas for my next finance discussions at parties. Thanks. :beer

Re: Finance discussion at parties.

Posted: Sat Feb 11, 2012 11:09 am
by Harold
HueyLD wrote:Harold,

Your reply is so good that I am going to steal your ideas for my next finance discussions at parties. Thanks. :beer
Well Huey, let's hope we end up at the same parties sometime (and that you don't steal the pontification/political ideas :wink: )

Re: Finance discussion at parties.

Posted: Sat Feb 11, 2012 12:07 pm
by reggiesimpson
Harold...well said. I think i will be copying HueyLD!

Re: Finance discussion at parties.

Posted: Sat Feb 11, 2012 12:22 pm
by Timoneer
I plead guilty. A year and a half ago, someone pointed me towards William Bernstein's books on asset allocation, which led me on first to Jack Bogle and then the Boglehead books and forum. I feel an obligation to return the favor. Since I have many friends approaching retirement, this type of topic does come up in conversation and I see no reason not to mention the books that have helped me.

Re: Finance discussion at parties.

Posted: Sat Feb 11, 2012 1:27 pm
by Liquid
reggiesimpson wrote:Do you openly discuss Finance at parties? If so what is your feedback?
Honestly I don't recall personal finance ever being discussed at parties. Personal finance seems to be even more taboo than the dreaded politics. The usual suspects are: the weather (old faithful), movies, kids/school, sports, jobs, and politics (well tolerated usually provided everyone belongs to the same party).