If you MUST use "secular" in your investment commentary…

…please follow The Wall Street Journal‘s example. Define secular the first time you use it. 

Here’s how Mark Gangloff did it in “TALF and Ilk Won’t Cure Economic Ills” in The Wall Street Journal: “Instead, credit has dried up this time because of the more secular—meaning structural or long-lasting—phenomenon of a debt bubble.”

Secular is great shorthand for conversations between investment professionals. But it may confuse investors who think of secular as the opposite of religious.” After all, see what comes up when you Google “define: secular.”

 

 

Note: Gangloff’s article appeared on March 5, 2009, but his approach still works. I updated this on Nov. 21, 2022.

 

 

 


 

How can I come up with ideas for a weekly newspaper column on personal finance?

That’s the question a newly independent advisor asked me.

Before I offer some ideas, I’m going to challenge the idea that a newspaper column must be weekly. As newspapers decline, this advisor would be lucky to get into print once a month. But let’s assume the paper DOES need a weekly column. How about offering to rotate authorship with three advisors who have different niches?  You’ll reduce your burden and increase the range of topics covered by the column. That sounds like a win-win situation to me. If you know of anyone who’s tried column-sharing, please leave a comment below. 

Once you’ve landed your column, here are some sources for ideas.
1. Questions your clients ask you
2. LinkedIn and other social networking sites–See what questions appear on relevant LinkedIn’s groups. Pose a question in a social networking forum. For example, “What’s your most pressing personal finance question?” or “What questions do you have about managing your 401(k)?”
3. Professional publications–Have you read an interesting article in Financial Planning, Advisor Perspectives. Financial Analysts Journal or some other trade publication? Talk about the topic in plain terms that regular folks can understand.
4. Newspapers, TV, and other media–It’s especially good to pick a controversial topic.
5. Personal finance blogs–There are lots of good blogs out there. For a list of financial and economic blogs read by financial advisors, check out the list on page 3 of my article, “Investment Strategy Blogs Slow to Influence Financial Advisors.” For a more recent list, see “RIA blogs recommended by my Twitter friends.”

Can you suggest more sources? Please leave a comment.

Note: This post was updated on May 18, 2015 to remove a broken link and to add more recent information.

"Quantitative easing" is a weasel word

Governments should speak more plainly, says David Champion in “Bankers Turn to Weasel Words as a Desperate Measure.” 

As an example of what not to do, he cites the Bank of England’s references to “quantitative easing.” Quantitative easing is fancy talk for increasing the money supply.

Campion says, “I cannot help but feel that a term like quantitative easing is designed to obscure a rational discussion around policy. If the Bank of England were to come out and simply say that all it could do to get us out of the crisis was print new money, then we might all feel that we had to sit down and think of something more sensible to do.”

Are you using terms like quantitative easing in your investment commentary? If so, you run the risk that your readers, like Champion, will think you’re trying to pull the wool over their eyes.

By the way, there’s a decent explanation of quantitative easing at “Quantitative easing explained” on FT.com. 

What Bernanke does well as a speech writer

Ben Bernanke’s speech construction is perfect, says blogger Richard Miles.

What’s so good about it? Bernanke abides by the maxim, “Tell them what you’re going to tell them, tell them, then tell them again.”

According to Miles’ analysis of Bernanke’s March 10 speech to the Council on Foreign Relations, Bernanke spent 20% of his words setting up his speech, 75% on “tell them,” and 5% on re-telling.

Think carefully about that 25% the next time you write a speech–or any sort of complex communication.

Test your business spelling skills

The 25 Most Commonly Misspelled Words” is an interactive quiz. Test your spelling skill today!

 

"Op-Ed Guidelines for The Wall Street Journal"

The Wall Street Journal is a great place for you to get noticed. Getting your opinion piece published on the op-ed page carries cachet. Plus, it’ll make a great reprint to share with clients and prospects.

Check out “Op-Ed Guidelines for The Wall Street Journal.” Your essay should run 600 to 1200 words and be pasted into the body of your email to edit.features@wsj.com. Those words should be “jargon-free,” according to Robert Pollock, editorial features editor. The 1200-word upper limit is on the long side, so keep that in mind if you submit to other newspapers’ op-ed sections.

The guidelines don’t say this, but your essay should get to your point quickly. A busy editor may reject your essay after reading only one or two paragraphs.

Also, try for what reporters call a “news hook.” Tie your essay to something in the news.

"How to send a personal email" by Seth Godin

How to send a personal email” by Seth Godin gives some excellent suggestions about how to avoid being perceived as a spammer.

But there are no easy answers. Basically his 14 points boil down to taking the time to make your email short, clear, personal, and relevant to the recipient. 

I found Godin’s blog post thanks to Anna Goldsmith’s “Just Because You Have Someone’s Email Address Doesn’t Mean You Have the Right to Email Them.”

"Institutional investing" isn’t as great as you think

That’s what Van Kampen Investments discovered when it researched how to name a new retirement income product.

“Institutional” means expertise to financial services professionals, but it makes individuals think of hospitals and prisons, said Andrew Scherer, managing director, Van Kampen Investments, in his comments to the Managing Retirement Income conference on Feb. 10.

Van Kampen named its new product “Retirement Strategy Funds” and adopted the tag line “helping you build a better plan” under the influence of research showing that
1. “‘Retirement’ resonated better than ‘Freedom,’ ‘Target,’ ‘Lifetime’ and others.”
2. “‘Strategic’ tested better than ‘automatic,’ ‘institutional,’ or ‘customized.'”
3. “Positive messaging resonates, fear-based does not.”

Can you think of other words that mean different things to you and your clients? Would you agree that “risk” is one of those words? Please leave a comment.

Related posts:
* Highlights from the Managing Retirement Income Conference
* Notable quotes from the Managing Retirement Income Conference


"Amid Market Gloom, Fund Manager Fights Against Jargon"

Are you using too much jargon in your market commentary? 

Read “Amid Market Gloom, Fund Manager Fights Against Jargon” for the tale of a British fund manager trying to eliminate jargon and wordiness.

Here are most of the terms he’s fighting:

  • Aggressively
  • Backdrop 
  • Basis points
  • Bets
  • Drawdown
  • Going forward
  • Is primarily engaged in
  • Headwinds, tailwinds
  • Musings
  • Names
  • On the back of
  • Perfect storm
  • Space

Some of these are okay with me. “Headwinds” bothers me the most. The article suggests “positive trends” as an alternative. “Basis points” is one of my pet peeves.

What investment jargon are you battling?


To "dear" or not to "dear" in your email

What salutation should you use to start a business email? 

  • Dear? 
  • Hello? 
  • Something else?

I typically open with the person’s name followed by a comma. Like this

Susan,

This is how 95% of my business correspondents start their emails.

Some people use “Dear,” then the recipient’s name. That’s essential for a business letter, but it’s too intimate for a business email. At least, that’s how it feels to me.

I was surprised to see that the authors of Send: Why People Email So Badly and How to Do It Better argue for using “dear.” They don’t like my approach. They say:

For some reason, people who would never in a letter write “Jim” or “Bob” or “Mr. Smith” with no introductory word beforehand feel no hesitation in doing so in an email…. But it strikes us as rude to bark out someone’s name like that, even in an email, especially if you don’t know your correspondent.”

I reserve “Dear” for my correspondence with friends. Or for replies to emails in which I’ve been addressed as “Dear Susan.” I think it’s usually appropriate to echo the salutations used by the person with whom you’re corresponding.

I don’t have strong feelings either way about starting an email with “Hello” and then the name of the recipient. If Allan emails me with “Hello, Susan,” I’ll “Hello, Allan,” back to him.

If you read my “Should you say ‘No’ to ‘Please,’ ” you’re probably not surprised to find me disagreeing with the authors of Send, as did most of the respondents to my reader poll on the use of please in emails.

So, how would you address an email to me? Would you use one of the following salutations?

  • Dear Susan:
  • Dear Ms. Weiner:
  • Hello
  • Hi
  • Hi, Susan
  • Ms. Weiner,
  • Susan,