Monday, November 2, 2015

The Local Personal Finance Blogosphere

I have to admit, as much as I enjoy being a lone ranger and running out out into the fringe solo and tackling unpopular or sensitive issues, I am also starting to enjoy being part in the local finance blogosphere more and more.

(Like Macklemore, you know I'm weird, but you just want to see what I'm going to do next)

If you have any doubts about the effectiveness of the "crowd", just look at this little eco-system we have to see some examples of the benefits it can bring.

When a particularly big or hot "news" comes out, you see new content creation that gets published at lightning speed. Recent examples are the Oxley bond offer and the Jumbo IPO:

Oxley Bond
26 Oct - Announcement
27 Oct - LP, B, Silly Investor
28 Oct - GMGH
31 Oct - Boring Investor
1 Nov - Some Ideas
3 Nov - Subscription Close

Jumbo IPO
21 Sep - News of potential IPO
28 Oct - Announcement
29 Oct - Derek, LP
30 Oct - B
31 Oct - Kyith, Mr IPO
1 Nov - GMGH
5 Nov - Subscription Close

Unlike the mainstream media who can only report the facts (announcement date, offer amount, closing date) and interview "experts" for their opinion, bloggers are by default allowed to add personal bias and highlight certain things which would otherwise be kept under the rug. What you get are independent viewpoints that can help a potential investor in making a decision by raising up penitent questions that ought to be answered before plunging in cold, hard cash in an "investment".

With so many moving parts in this "crowd", any given topic would surely pique the interest of at least 1 blogger and BAM, you get an alternative perspective from a random observer, just like you. Of course, most of us do this as a hobby, so don't expect any kind of extra service or product guarantees. I think it has been stressed over and over again, but it never hurts to stress it one more time: Most of us do not like to reply to "Er, so this one can buy or not?".


One of the reasons why I personally enjoy topic discussion by multiple bloggers is that the final result is a pretty accurate representation of the facts. As much as I love to say "Ownself check ownself", it is not an easy thing to do - publish decent content AND make it snappy. It is not impossible that certain things are overlooked and some "facts" get messed up along the way. Having multiple pairs of eyes and brains helps to double fact-check content. This results in a better and truer representation of the facts for the interested public to build on and form their own conclusions.

While facts are facts, I like to read about other's opinions and see how their best points stack up against my complete theory. If it pokes holes in my argument, I can re-examine my weak points and incorporate the good stuff and strengthen my whole argument. If certain points brought up are less convincing than what I have, I feel more confident with my stand. At the end of the process, I feel enriched because I usually walk away with a better and more comprehensive understanding than when I started.


2 years 3 months on, I have to say that I've learnt a lot from being part of this community.

To more days of all of us not being sick perpetually talking about money.

8 comments:

  1. Hi GMGH

    I enjoyed being part of the community and reading posts by you as well.

    Keep it up, for the community, and for everyone else ;)

    ReplyDelete
    Replies
    1. Hi B,

      Me too! I feel uneasy if I don't read all of everybody's brain pickings! :P

      Delete
  2. Hi GMGH,

    Thanks for the mention. The community has grown and becoming more vibrant thanks to bloggers like you.

    The next step is to show the mainstream media and experts that bloggers offer a credible alternative voice. After all we put our money where our mouth is. ;)

    ReplyDelete
    Replies
    1. Hi Derek,

      No problem! With the flow of information migrating from traditional print to digital content, as well as people before more comfortable with sharing information online, I'm sure our community will keep growing! You always seem to discover the newcomers first though ;)

      Delete
  3. I am excited to join the community too! :)

    ReplyDelete
    Replies
    1. Hi Dividend Knight,

      Welcome to the community! :)

      Delete
  4. Replies
    1. Hi Anon,

      Thanks for the encouragement!

      Delete

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