Prevention over Finfluencers Flashcards
Make better decisions when it comes to knowledge learning.
What is a finfluencer?
A finfluencer, or finance influencer, is someone who shares financial advice or information on social media, aiming to educate their audience on topics they’re seen as experts in and to sway their followers’ investment choices using their expertise and personal brand.
How do finfluencers impact Gen-Z investors?
In the US, 37% of Gen-Z investors, and 38% in the UK, say social media influencers heavily influence their decision to invest, according to a 2023 study by FINRA Investor Education Foundation and CFA Institute.
What are the two main goals of finfluencers?
First, they share info on financial topics where they’re perceived as experts. Second, they use their expertise and personal branding to influence their audience’s purchasing or investment decisions (Geyser 2023b).
What’s a **key question **about a finfluencer’s motivations?
Does the finfluencer have a financial motivation, like earning money from courses or sponsorships, for creating their content?
Why is disclosure important for finfluencers?
It matters whether the finfluencer openly states any financial motivations (e.g., paid promotions), so followers can judge if the advice is biased or trustworthy.
How can you check a finfluencer’s qualifications?
Look for details on what makes them an expert, like education or experience and verify if that info holds up when checked against reliable sources.
What does “consistency” mean when evaluating finfluencer content?
Consistency means the finfluencer’s info matches the latest, accurate data when compared to other trusted sources.
What is the rate of traders who aren’t informed properly?
“Between 70% to 90% of traders don’t know shit about the market.”
What does the term “Illegitimi non carborundum” mean?
Don’t let the bastards get you down.
