Ben Carlson, portfolio manager at Ritholtz Wealth Management and “A Wealth of Common Sense” blogger, this week compared some of the biggest names in personal financial punditry to ESPN’s top blowhard Stephen A. Smith.
“Hot takes are a way to stay relevant when we’re swimming in a sea full of opinions,” Carlson explained in a blog post Tuesday.
He called out Suze Orman specifically for one of her hot takes, in which she claims a daily Starbucks SBUX, -0.94% habit amounts to “peeing $1 million down the drain,” when it comes to retirement.
“This advice sounds good because the latte factor is catchy but it’s not useful advice,” he wrote. “If a coffee a day is going to ruin your retirement you have much bigger financial troubles to worry about.”
Carlson acknowledged that Orman has, indeed, helped a lot of people over the years, but he also offered these words of caution: “Just remember much of what they’re telling you now is more about entertainment than advice.”
Ellen Roseman, a columnist for the Toronto Star, linked to his post:
The Stephen A. Smiths of Personal Finance by @awealthofcs https://t.co/b1WrX2FtFu Giving advice made @SuzeOrmanShow and @DaveRamsey rich and famous, which makes it harder for them to offer advice to normal people any more.
— Ellen Roseman (@ellenroseman) April 17, 2019
What does Orman think about her tweet?
‘That is the stupidest comment I have ever read in my life.’
So stupid, in fact, that Orman, who has 1.5 million Twitter followers, blocked Roseman. “That was quick!” Roseman responded. “I’m probably part of a large group of people who offended her by quoting articles she disliked.”
Carlson also waded into the Twitter tiff, but he took the high road.
“I’m sure I’ve put out way stupider comments than this,” he said. “In her defense she is way richer and successful than me.”
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