Back on April 1 I wrote an article titled Deprogram Yourself. I was fed up with both promoters and robotic followers in the financial markets. All markets have promotions and those who lap up said promotions, but the gold “community” of honest money advocates (code for a casino patron who thinks he is more righteous than other casino patrons) is the most dogged and belligerent of them all. Into this mix come the promoters, gurus, pitch men (and women) and con artists to ply their trade, always tugging at the emotions of all too human financial content consumers.

So I think it is no coincidence that the owner of the gold focused website, 321gold.com, has written a book entitled Nobody Knows Anything, in order to make many of the same points about his own focus sector as well as the markets in general. Indeed, after reading my article Bob sent me an email noting that he had a book forthcoming on exactly the same subject. So naturally, it is my pleasure to review it.

First, a quote from my article:

“This leads me to a more outward-looking issue that I have noted with much gall over my nearly 16 years in this public realm.  I often make fun of the clown show that is our main policy-making body, but I reserve the real displeasure for the charlatans, quacks and promoters who make a business out of manipulating other peoples’ viewpoints to the tune of financial gain.”

In reading Bob’s book I think that he has had a level of gall as well, after years of holding down the fort at ground zero, AKA a popular gold website that has been subject to all sorts of positive and negative perceptions and opinions. My guess is that he finally had enough and wanted to get some things down on paper once and for all.

His writing is clear and simple and what resonates with me personally is his ‘deprogramming’ of myths surrounding the self-styled gurus that populate and permeate the investment landscape.  Frankly, it pisses me off and I think it does Bob too.  He absolutely gets that you have got to think for yourself first and foremost, consider other well founded analysis and viewpoints and go forth with ego under control and eyes wide open.  From the book…

“Running a financial website is no more difficult than becoming a successful politician; all you have to do is tell people what they want to hear.  We wouldn’t dream of voting for a politician who told the truth, so why would we pay money to a website that was brutally honest with us?  After all, we all have fantasies that we want fulfilled.”

It is within those fantasies that the charlatans ply their trade.  This is just one concept in an enjoyable little book that includes history and much information that Bob has come across over his many years of intense financial market participation.  The stuff about gurus resonates with me and that is why I highlighted it.  But I highly recommend this easy read as a brush up to assure we have our contrarian chops in order and our B/S Detectors at the ready.

These are the financial markets after all.  The only reality is what the market says is reality.  In order to stay in tune with it you need to check your assumptions and ego at the door every damn day you show up for work.  Bob understands that well.  As such, I am proud that he asked me to give Nobody Knows Anything a review.  If your B/S Detector is at all on fritz, buy it… and be a better investor for it.