You might be wondering why we call ourselves Fools, especially
when we are in the serious business of investment. We could have given
ourselves a serious, professional sounding name, but instead, we chose to call
ourselves The Motley Fool.
In a nutshell, we borrowed our name from Shakespeare (after
we consulted a few lawyer friends).
The more detailed story is this: Our company name was derived from
a Shakespeare play As You Like It, where the court jester, or the
fool, could speak the truth to the king without having his head chopped
off. The Fool was never afraid to speak up and question conventional
wisdom, particularly when the convention was detrimental to the kingdom’s
people. Back in 1993, we wondered why nobody was complaining about the
“wise” advice provided in the financial world. To expose what was wrong
with convention, we started a print newsletter (that later moved online) that
was injected with a healthy dose of common sense Foolishness.
Our mission has always been and will continue to be to
educate, amuse, and enrich. We’ve taken the liberty of putting together a
mission statement just for you, too: Get smart(er), make money, and have fun.
Get smart(er)
We know that most people have never formally been taught much about finance or investing. The financial advisors love to tell you that you ought to leave it in their hands – that it’s too difficult for you to make your own financial decisions, just so you will entrust your hard-earned money to them so that they can generate nice big commissions for themselves. They tell you to let them pick the complex investment-linked insurance or the fund you know nothing about.
We know that most people have never formally been taught much about finance or investing. The financial advisors love to tell you that you ought to leave it in their hands – that it’s too difficult for you to make your own financial decisions, just so you will entrust your hard-earned money to them so that they can generate nice big commissions for themselves. They tell you to let them pick the complex investment-linked insurance or the fund you know nothing about.
Obviously, we think that’s ridiculous. The harsh reality is that
only one person has your best interests at heart — you. Our job is to show you how to take control of your
own financial life so you can make confident, well-informed decisions about
every dollar that you earn, whether you’re saving it, spending it, paying it
back, or making it grow.
Make money
Almost everything in Fooldom is here to fulfill this part of
your mission. And you’ve found the exact right place to start: The next 11
steps of our 13 Steps to Investing Foolishly will help you along the way.
In this series of articles, we lay out a systematic approach
to investing that should benefit novice and seasoned investors alike. We cover
almost every money situation you can imagine — paying off debt, finding
no-brainer ways to save, exactly what accounts you should use to invest, smart
asset allocation, finding the right investing strategy for you, and even the
pitfalls you should avoid.
But, of course, our job is not complete unless you have some
fun along the way.
Have fun
Back in 1994, we hyped a fictional penny share called Zeigletics on the Prodigy discussion boards (one of the Internet’s first “chat rooms”). “Zeigletics” manufactured “linked sewage disposal systems for the central African nation of Chad.” It literally transported excrement.
Back in 1994, we hyped a fictional penny share called Zeigletics on the Prodigy discussion boards (one of the Internet’s first “chat rooms”). “Zeigletics” manufactured “linked sewage disposal systems for the central African nation of Chad.” It literally transported excrement.
Our aim was to “out” the penny share hype-sters that were
abusing the money discussion boards. Their electronic pyramid scheme — pumping
tiny, thinly traded shares to get other investors to load up so they could dump
shares at the first sign of an uptick — was not just harmful to investors, but
it also degraded the real conversations people were having.
We’re all Fools
The investors we had come to know by their screen names
joined the gag, hyping Zeigletics, hinting at their “inside information,” and
bragging about their “amazing returns” investing in the fictional sewage
disposal outfit in Chad.
Zeigletics showed us what a group of like-minded individual
investors could accomplish by banding together. Even better, it created a
bona-fide Foolish community where honesty, optimism, teamwork, and innovation
thrived. That’s right, pretty soon we noticed that people were identifying
themselves as Fools — just like us. A movement had begun.
Source : FOOL.SG
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