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If I am going to buy some stocks of companys; I wonder, if I should talk about that to others and strangers.

Is there any harm, if someone knows, which stocks I have? Can someone misuse these information to harm me? I assume, we both are not very influential, but maybe there's any other reason why I should talk about my assets or why not.

12

I like your question and think it is a pretty good one. Generally speaking I would not suggest talking about your stock picks or wealth. Here is why:

1) Most people are broke. Seventy-eight percent of the US population report living paycheck to paycheck. More than a majority do not have enough in savings to cover a $500 repair to a car or dryer.

What kind of money advice will you get from broke people (the general population)? Answer: Bad.

2) It targets you for jealousy/negative feelings. If you discuss this kind of thing with your broke friends they will have negative feelings toward you. This is not necessarily a bad thing. If you want to build wealth a aspect of that is having wealthy friends. They will have the kind of disposable income to do the kinds of things you want to do. They can alert you to good investment opportunities. And your income will tend to increase. Most people's income resides within 10% of their 10 closest friends.

3) You can be targeted for law suits. Given that personal injury attorneys work on contingent, they are very good at picking on defendants with deep pockets or really good insurance. Knowing that you have significant investments will put a bit of a target on your back.

Having said all of that, you could participate in groups with a similar interest in investing. Back in the late 80's investment clubs were all the rage, and you might be able to find one of those online or at the local library or something. That would be a far safer.

8

No, there is no significant harm to discussing this. Outside of possibly getting bad advice, excessive advice, or complaints that others just aren't interested...

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