I was reading this Bloomberg piece about Marc Cohodes ‘famous’ short seller yesterday and thinking… poor bastard. So smart, and so aggravated. God bless him and the other shortsellers. Marc helped uncover and shine a light on some fraud whoppers.

I respect that Marc can forget the Macro and focus on the Micro. It’s how you get to fraud…one freak/cheat at a time. Call the liar a liar until everyone notices the lie. A brutal and expensive bloodsport.

On the other end of the spectrum are the doom and gloomers and the sell everything because of ________ (insert currency, overvalued, inflation, deflation etc) or whole system is broken.

In the last year RBS (a collection of educated people) and Jeff Gundlach have said to sell everything.

Here is the confident RBS sell everything panic call regarding the deflationary spiral.

Here is Jeff telling you why he would sell it all and buy gold and thinly traded gold mining stocks that he already owned .

I see bold predictions get passed around all day and now that a year has passed on these wrong market calls, they are getting passed around again.

There is ZERO brand risk for RBS or Jeff making these calls. We have no real idea what they are telling their actual clients and partners.

These macro calls are great for headlines and bank trading volume but bad for everyone else.

If you don’t have millions saved you should be in accumulation mode, not market timing mode.

I get asked all day on Stocktwits, Twitter and in person of course how to get started and accumulate wealth. Here is one from today from a new Stocktwits member:

@howardlindzon by chance, have you written a basic guide to building wealth for aspiring investors? Something we can follow step by step?

— Hidden Dragon (@Li_Mu_Bai) Feb. 12 at 12:41 PM

I send everyone that asks to this section of my blog.

I was listening to this Bloomberg interview of Baiju Bhatt (co CEO) of Robinhood this weekend. They are the fastest growing brokerage in history and according to Baiju already have as many accounts as Etrade (not including ESOP’s). RBS and Jeff Gundlach would likely call these new investors and millennials – suckers. In the interview it was fun listening to Cory go from cynical to curious to open minded about the possibility of success. I am optimistic a new generation of investors are going to learn the language of the markets and accumulate wealth by saving and investing, not timing.