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  • New Places to Interact with White Coat Investors

    I've discovered that the WCI community isn't just one big community, it's actually a conglomeration of little tribes with only minimal overlap. There's the folks that read the emails, the folks that come by the blog, the people on this forum, people who listen to the podcast etc. I'm surprised how many people on this forum don't even read the blog. That's perfectly fine, I'm trying to reach people where they're at. But I just wanted to let you guys know there are two new ways to get the WCI message.

    # 1 There is now a private White Coat Investors Facebook Group!

    There are three main differences between this forum and the Facebook Group:

    1. Fewer ads than the forum and far less solicitation of business.

    2. The Group is private- you have to apply and be accepted. Basically, high income professionals, their students, and their spouses, but no financial professionals except a few a month that are sponsoring the group (and there will be no sponsors for the first month.)

    3. Not searchable by search engines. The privacy allows people to be a little more open with their recommendations and while libel/defamation laws always apply, there should be fewer issues with it than we've had on the forum due to its searchable nature.


    # 2 There is now a r/whitecoatinvestor subreddit on Reddit!

    We've always gotten a fair amount of traffic from Reddit and I've been approached by many asking for a WCI subreddit over there (and in fact have had people say they were going to start one if I didn't.) The nice thing about this is that unlike most of the Reddit personal finance/investing forums we hope to make it comfortable for those with high incomes/high net worths to ask their questions without feeling ridiculed. There are two main differences between the WCI forum and the subreddit:

    1. It's on Reddit, a format millions of people love and already use, so we can hopefully introduce the WCI message to many more people

    2. A stricter moderation policy, particularly with regards to self-promotion. I've had lots of people complain that too many people on this forum engage in self-promotion of their business or blog and it turns them off from using the forum. Fair enough, we've been fairly laissez-faire here. Well, Reddit's culture is militantly anti-self promotion and the subreddit will be in keeping with that. In fact, we're instituting the 1/10 rule there that has been popular on Reddit for so long- only 1 out of 10 of your posts can link to your website, even if the link answers the question asked.

    3. Minimal ads. Unlike this forum, I don't expect to make any money from Reddit. But that's fine, since Reddit is paying for all the design, hosting, and maintenance! Reddit does usually put a couple of small ads into the sidebar.


    We're not decreasing our promotion or participation on this forum at all and hope you won't either, just trying to find new ways to engage with and inspire people to get their own "fair shake" on Wall Street.
    Helping those who wear the white coat get a fair shake on Wall Street since 2011

  • #2
    The WCI version of Doc Moms Facebook group - I think this is a great idea and long overdue.
    Our passion is protecting clients and others from predatory and ignorant advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

    Comment


    • #3
      I don't know that it will get that big, but it's growing fast...1,200 member applications in the first 10 hours. Can't approve them fast enough.
      Helping those who wear the white coat get a fair shake on Wall Street since 2011

      Comment


      • #4
        Curious about non health professionals on the Facebook group. The financial professionals on forum always seem appropriate.

        This exchange on Facebook caught my eye, and raised my eyebrow!, in discussion of American funds vs Vanguard.

        I am curious about non-health professionals on Facebook. I have found financial folks on forum to be quite appropriate. These comments on Facebook discussion of American Funds vs Vanguard raised my eyebrow!

        Jonathan D Morgan
        Completely brainwashed Boglehead isms. Does not conform at all to the academic research on how to beat the market. I beat the market more than 90% of the time...but good luck with index funds, where you are guaranteed to under perform the market every single year.

        When asked for current occupation:

        Jonathan D Morgan
        PhD in finance, Retired from a career on Wall Street, before 40 with a nine figure net worth. It would have been so much easier for you had I said I was an FA at Edward Jones or Northwestern Mutual, sorry to disappoint.

        Comment


        • #5




          Curious about non health professionals on the Facebook group. The financial professionals on forum always seem appropriate.

          This exchange on Facebook caught my eye, and raised my eyebrow!, in discussion of American funds vs Vanguard.

          I am curious about non-health professionals on Facebook. I have found financial folks on forum to be quite appropriate. These comments on Facebook discussion of American Funds vs Vanguard raised my eyebrow!

          Jonathan D Morgan
          Completely brainwashed Boglehead isms. Does not conform at all to the academic research on how to beat the market. I beat the market more than 90% of the time…but good luck with index funds, where you are guaranteed to under perform the market every single year.

          When asked for current occupation:

          Jonathan D Morgan
          PhD in finance, Retired from a career on Wall Street, before 40 with a nine figure net worth. It would have been so much easier for you had I said I was an FA at Edward Jones or Northwestern Mutual, sorry to disappoint.
          Click to expand...


          Yes, I saw that, too, and was a bit surprised. And dubious.

          Comment


          • #6
            I guess I missed this comment. I have read his posts out of curiosity, i didn’t get the impression that he was selling. It’s definitely a different take from forum participants but diversity is good, right?

            Comment


            • #7




              I guess I missed this comment. I have read his posts out of curiosity, i didn’t get the impression that he was selling. It’s definitely a different take from forum participants but diversity is good, right?
              Click to expand...


              Not necessarily. Goldbugs, conspiracy theorists, and whackadoodles add negative value.

              It’s not enough to say “Diversity is good”.  The onus is on the person putting forth a proposition to show that “Diversity is good because X, Y, and/or Z.”

              Comment


              • #8
                If nothing else it seems like a good way to spread the WCI message to a new audience.  Seems like a good business decision on Jim’s part.

                Comment


                • #9
                  This is not specifically directed at the new WCI FB group, of which I am a member, but those closed groups more generally. I have a personal FB account, and there are increasingly potential comments and interactions in so-called closed groups that I have held back not because I believe they are wrong (inappropriate, etc.) but because I do not want to have them attributed to me outside that setting. If someone can screen shot a post and distribute to my partners or Hospital CEO, even thought it is extremely unlikely, I will be silent.

                  There is one thread right now in the PoF forum where I really think that I could help the person out, specifically with a part time radiologist career question, but I cannot comfortably respond under my own name. Interestingly, the person asked the question anonymously, through the moderator (@PoF), not via his/her own account.

                  The other thing that I do not like is that while my family and life is, in part, revealed on FB (graduations, trips, holidays, etc.) some others use an anonymous screen name (ie. their blog name) or a FB account with only a picture of a dog or tree and nothing else. I am uncomfortable with the asymmetric levels of transparency. These are my personal hang ups, I realize, but no doubt others feel the same.

                  I much prefer the forum format where you can interact anonymously, and once there is a level of trust established, connect in real life. Many of my WCI forum friends know my name, email, cellphone number, etc. And others could easily connect the dots to me (via Twitter, etc.), which is fine, too.

                   

                  Comment


                  • #10




                    This is not specifically directed at the new WCI FB group, of which I am a member, but those closed groups more generally. I have a personal FB account, and there are increasingly potential comments and interactions in so-called closed groups that I have held back not because I believe they are wrong (inappropriate, etc.) but because I do not want to have them attributed to me outside that setting. If someone can screen shot a post and distribute to my partners or Hospital CEO, even thought it is extremely unlikely, I will be silent.

                    There is one thread right now in the PoF forum where I really think that I could help the person out, specifically with a part time radiologist career question, but I cannot comfortably respond under my own name. Interestingly, the person asked the question anonymously, through the moderator (@PoF), not via his/her own account.

                    The other thing that I do not like is that while my family and life is, in part, revealed on FB (graduations, trips, holidays, etc.) some others use an anonymous screen name (ie. their blog name) or a FB account with only a picture of a dog or tree and nothing else. I am uncomfortable with the asymmetric levels of transparency. These are my personal hang ups, I realize, but no doubt others feel the same.

                    I much prefer the forum format where you can interact anonymously, and when there is a level of trust established, connect in real life. Many of my WCI forum friends know my name, email, cellphone number, etc. And others could easily connect the dots to me (via Twitter, etc.), which is fine, too.

                     
                    Click to expand...


                    I also prefer this forum format.  I just applied to join the WCI fb group this morning.  I think I am just getting overwhelmed by all the groups/ blogs / etc.  I prefer the anonymous persona also.  I get that people figure out who you are.

                    Comment


                    • #11







                      This is not specifically directed at the new WCI FB group, of which I am a member, but those closed groups more generally. I have a personal FB account, and there are increasingly potential comments and interactions in so-called closed groups that I have held back not because I believe they are wrong (inappropriate, etc.) but because I do not want to have them attributed to me outside that setting. If someone can screen shot a post and distribute to my partners or Hospital CEO, even thought it is extremely unlikely, I will be silent.

                      There is one thread right now in the PoF forum where I really think that I could help the person out, specifically with a part time radiologist career question, but I cannot comfortably respond under my own name. Interestingly, the person asked the question anonymously, through the moderator (@PoF), not via his/her own account.

                      The other thing that I do not like is that while my family and life is, in part, revealed on FB (graduations, trips, holidays, etc.) some others use an anonymous screen name (ie. their blog name) or a FB account with only a picture of a dog or tree and nothing else. I am uncomfortable with the asymmetric levels of transparency. These are my personal hang ups, I realize, but no doubt others feel the same.

                      I much prefer the forum format where you can interact anonymously, and when there is a level of trust established, connect in real life. Many of my WCI forum friends know my name, email, cellphone number, etc. And others could easily connect the dots to me (via Twitter, etc.), which is fine, too.

                       
                      Click to expand…


                      I also prefer this forum format.  I just applied to join the WCI fb group this morning.  I think I am just getting overwhelmed by all the groups/ blogs / etc.  I prefer the anonymous persona also.  I get that people figure out who you are.
                      Click to expand...


                      I agree. In order to read all the forums, blogs, comments, FB group threads, etc., not only do I have to quit my job, but I also have to take a speed reading course and clone myself and petition the Almighty for a 28 hour day.

                      Comment


                      • #12










                        This is not specifically directed at the new WCI FB group, of which I am a member, but those closed groups more generally. I have a personal FB account, and there are increasingly potential comments and interactions in so-called closed groups that I have held back not because I believe they are wrong (inappropriate, etc.) but because I do not want to have them attributed to me outside that setting. If someone can screen shot a post and distribute to my partners or Hospital CEO, even thought it is extremely unlikely, I will be silent.

                        There is one thread right now in the PoF forum where I really think that I could help the person out, specifically with a part time radiologist career question, but I cannot comfortably respond under my own name. Interestingly, the person asked the question anonymously, through the moderator (@PoF), not via his/her own account.

                        The other thing that I do not like is that while my family and life is, in part, revealed on FB (graduations, trips, holidays, etc.) some others use an anonymous screen name (ie. their blog name) or a FB account with only a picture of a dog or tree and nothing else. I am uncomfortable with the asymmetric levels of transparency. These are my personal hang ups, I realize, but no doubt others feel the same.

                        I much prefer the forum format where you can interact anonymously, and when there is a level of trust established, connect in real life. Many of my WCI forum friends know my name, email, cellphone number, etc. And others could easily connect the dots to me (via Twitter, etc.), which is fine, too.
                        Click to expand…


                        I also prefer this forum format.  I just applied to join the WCI fb group this morning.  I think I am just getting overwhelmed by all the groups/ blogs / etc.  I prefer the anonymous persona also.  I get that people figure out who you are.
                        Click to expand…


                        I agree. In order to read all the forums, blogs, comments, FB group threads, etc., not only do I have to quite my job, but I also have to take a speed reading course and clone myself and petition the Almighty for a 28 hour day.
                        Click to expand...


                        That's interesting. I suppose I assumed it would be embraced by the physicians because a closed group offers the opportunity to talk openly about whatever you want without the advertisers being privy. I've wondered in the past if some of the forum participants have hesitated to share their experiences or ask the community for feedback on working with specific sponsors because the sponsor can read everything posted.
                        Our passion is protecting clients and others from predatory and ignorant advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

                        Comment


                        • #13
                          This whole extra interaction is overkill. But since WCI has data supporting different strokes for different folks I suppose it's a good business decision. More ads on Facebook group. If anything I'll join reddit since its add free and doesn't censor much: the ultimate forum.

                          Comment


                          • #14
                            I dont Facebook, nor Instagram now (though I think we still have the account for IG). Just doesnt seem to add much value. I do miss out on a couple of cool groups (ok, I can only think of this and the twitter vol trading group) but its what it is.

                            Comment


                            • #15
                              In the last month or so, I've almost completely cut Facebook out. I got on to be added to the WCI group but the chance I'll interact there is almost 0. On the plus side, life without Facebook is pretty nice.

                              Comment

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