“The investment business is actually a communications business,” ReformedBroker tells MarketWatch.
“I’m not sitting on Twitter all day,” he assured MarketWatch in a recent interview from the offices of Ritholtz Wealth Management in Midtown Manhattan. “I don’t think people have noticed.”
“I figured out that the investment business is actually a communications business,” he says. What sets Ritholtz apart, Brown argues, is its ability to form a bond with its clients and a much larger universe of potential clients, to demystify the art of investing and reassure them in times of turbulence.
Inspired in part by Ritholtz, Brown began his own blog in 2008, in time to chronicle the worst economic meltdown in generations and aim his wit and irreverence at a financial services industry that many viewed as corrupt, self-serving and incompetent. His work culminated in his 2012 polemic, “Backstage Wall Street,” wherein he attempted to take a sledgehammer to the financial industry’s commission-based orthodoxy.
Cullen Roche, founder and chief investment officer of Orcam Financial Group and the author of the popular blog, Pragmatic Capitalism, told MarketWatch, “Josh is the first person to tell you, ‘I’m a big fat idiot, and if I tell you something about a stock on CNBC and you run out and buy it, you’re an idiot.’”
Wall Street’s court jester While Brown helped to usher in a culture of investing that places high value on awareness of what one doesn’t know, his peers say that what really sets him apart from other advisers who promote themselves online is his humor.
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